Durham Farms #1 - Page 43




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          However, there is a tremendous disparity between the total number           
          of cattle each of them counted and determined were present.                 
               Mr. Daily, as reflected in his report, determined the cattle           
          present in the Hoyt organization herd that might belong to the              
          cattle-breeding partnerships and counted the following numbers of           
          cattle in the categories indicated:                                         
                   Category        Mature Cattle   Total Cattle                      
               Cows                     3,115     3,115                               
               Bulls                      761           1,619                         
          Breeding heifers           888           1,596                              
               Feedlot heifers            –-              182                         
               Timeshares Breeding        –-              477                         
               Service heifers                                                        
               Calves                   –-              904                           
               Steers                      –               10                         
               Total                    4,764           7,903                         
          Mr. Daily further confirmed that there were 90 bulls on loan to             
          ranchers under the borrow-a-bull program.  He further counted               
          2,066 steers and heifers at the Miller Feed Yard in Lasalle,                
          Colorado, and 889 steers and heifers at the North Platte Feed               
          Yard in North Platte, Nebraska, but did not include these cattle            
          with those possibly belonging to the partnerships, because the              
          feedlot managers had told him the cattle belonged to Ric Hoyt and           
          were being raised for slaughter.                                            
               Mr. Favre, on the other hand, as reflected in his report,              
          determined to be present and counted the following numbers of               



               26(...continued)                                                       
          undertaking separate counts.                                                





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Last modified: May 25, 2011