I will say my kids had a great time showing Market Beef at the fair, we also did some of the jackpot shows each year. It is a long time consuming project, if the child is dedicated and you have the time (1-2 hours a day) it can well worth it. You end up spending a lot of time together and creating some good memories and stories. If your child has a full plate of activities and you are always busy, a hog may be a better choice to start with. If you are in it to just make money, it is not a good project for that, if you want your child to learn responsibility, time management, animal husbandry, it can do that.
You can make money depending on your area and how the fair in your area works. We had buyers that came back every year and would purchase the kids animals. So they either made money or broke even. We started with commercial calves and worked up to calves bred for shows, but we won with calves that were not way over priced usually 600 to 1000 over market value. So it can be done.
We picked up our calves in late October early November for an early July show, so you have them for 8 to 9 months. Calves for our fair were January to March calves, depending on the calf; they are usually between 600 and 750 pounds at the start.
We never fed over 25 pounds of grain a day. We would add beet pulp plus 2 pounds of stabilized rice bran and 2 pounds of Calf Manna a day, the last few months, along with free choice hay the entire time. (We fed 3-way grain hay or Bermuda just depended on the animal's needs) If you average 3 pounds a day you will be increasing your feed about 3 pounds every month the first few months. Our calves averaged between 3 and 4 ADG each year
Once on full feed a calf should be eating between 2 and 3 percent of his body weight a day:
600 =18 11 bags of feed that month, $15 a bag = $165, $50 for hay
700=21 13 bags = $195 + $50 for hay
800=24 15 bags =$225 +$50 for hay
From here on I fed the same amount of grain daily depending on what the calf needed depended on what we supplemented with, fat or protein.
The last 3 to 4 months; beet pulp $16 a bag 4 pounds a day =12.5 days a bag or 5 bags every 2 months for the last 4 months or $160 another $120 in Rice bran and $120 Calf-manna, $200 in misc. (wormer, medication, grooming products)
Steer Commercial $1200-1500, show calf $1800 – whatever you want to pay.
$1800+2510+200=$4510, you can find cheaper feed buy buying in bulk, we did not have that option in our area.
Hope that helps.