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Whole oats, also called hulled or covered, have about 11-13% protein and 5% fat.
If you have a growing horse, breeding horse, or horse doing moderate to heavy work, you will probably want higher protein.
Hulless oats are available and contain about 27% more protein and 49% more fat than whole oats.
They contain about 5% fiber as compared to about 10.5-12% fiber for whole oats, but a Cornell study showed that 40% of the fiber was digestible compared to 30% of the whole oats.