I have gotten on my soap box before about salvage value. For easy math, when calves are running around a thousand dollars I can retain a heifer to breeding time for around $1500ish dollars. My cost to age them is about the same, its the heifer at weaning time value that changes so much. I can run those cows to 10 or 12 years old and sell them in good flesh, bred, for on avg $1250. There is a good market through the ring for Brahman cross cows in good flesh, bred, that can give some one a couple more calves and they can dump. That's good numbers for me because if she costs me $250, she gives me 10 calves, that's about $25 per calf. Going to what Kenny talks about, the numbers get out of wack right now because calf prices are so high and 10yr old cow prices really haven't changed much. It will cycle down eventually again. Obviously when we are in a down cycle and calves are $750 or $800, and if you catch the cycle right to dump 10 years olds, you can easily break even, or maybe even be up a little. That really helps the numbers.
I would much rather focus on that, than writing off depreciation.