Ms. York bought 120 steers averaging 505 pounds at $138 per 100 pounds. She sold the steers averaging 675 pounds for $142.50 per 100- pound weight (cwt). She estimates an average daily gain (ADG) at 1.8 pounds per day. Feed conversion is 9.2:1. (Note: 9.2 pounds of feed consumed results in a 1pound gain.) She borrowed the money for the expenses at 5.5 percent annual percentage rate (APR). The nutrient requirements and expenses of the steers are given in Table 13-1.
a. How many pounds of feed were fed per head?
b. What was the total number of pounds fed?
c. What was the total cost per head?
d. What was the return on the investment?
a. 1,564 lb/steer
b. 187,680 lb
c. $936.93/head
d. $1,400.88
e. 4.8%
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