What does Billy do with the dead wolf?

A man has been promised the wolf hide and Billy trades his gun for the dead wolf. The hide would have been worth little, but the man pretends to weigh the trade before accepting. Billy picks up the wolf and takes her away, traveling on toward the mountains where he had intended to set her free. There he wraps her in sheeting given to him by Jane Ellen for bandages for the wolf's leg. After wrapping her, he settles down to wait until daylight so that he can choose a proper place to bury her.