QLF

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There have been quite a few studies done on liquid supplements. Usually they point out that individual animal consumption varies and it is fairly expensive.
I assume you want to supplement protein. I have calculated the cost per pound of protein for various sources - - and liquids are the second most expensive source for me. The only advantage I see is low labor content.
If I had an isolated mature pasture and I got the lick wheel feeder for free (I can from my local feed mill) and I could get a mix that include ionsphore - - then I would pencil it out vs. tubs.

(My neighbors alfalfa hay is my cheapest source of protein)
 
We use it all winter and to be honest, the only reason we do is so we won't have to use more labor intensive methods.

Only the nursing cows lose some condition, even though they have high quality unlimited hay. The dry cows don't seem to lose any condition and the ones that recently weaned a calf seem to pick up some.
 

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