#1 what lifestage are you feeding? Cow/Calf? Growing heifers? Stocker calves?
#2 Get a hay and feed analysis for both of your supplements.
#3 Look up animal requirements and figure up what your typical winter range supplies your livestock and how much you expect their intake to be (or just make it that way).
#4 As Texasbred mentioned, look at each feedstuff you are thinking of supplementing and evaluate the supplied TDN, NE, (NEg for growing cattle) (NEl for lactating), protein, fat, Ca/P ratio for the most part.
#5 Play with the numbers and choose the most economic option. You may end up with a combination of hay and feed supplement.
If you have never seen the OSU cowcalculator, (I really dont know when the last time it was updated but its better than doing all this long hand) I highly recommend downloading it onto your computer. Its good for a cow/calf scenarios. I'm sure you can make your own spread sheet with imbeded equations to suite your own fancy. This one is just already done for you and you can change prices and adjust chemical analysis for your feedstuffs. Good luck. Hope this is helpful.