With fall 2025 bringing historic highs in cattle markets, producers across the U.S. are seeing top dollar for their animals. But behind the headlines, key differences in weight, sex, and animal management still dictate the true value of each calf sold.

Josh Maples, economist with the Mississippi State University Extension, points out that prices are up across all categories. Just four years ago, a 650 lb. steer in Mississippi averaged about $850 per head. Today, that same steer fetches $2,200. Even 250 lb. bull calves are bringing in over $1,000 per head, surpassing what mid-weight steers were worth in 2021.

This pricing surge reflects strong demand and tight supply, but it also magnifies the economic impact of management decisions - particularly around castration, animal selection, and market timing.

In general, lighter cattle command a higher price per pound because of their growth potential and the opportunity for buyers to add more value through finishing. However, heavier cattle typically bring more total dollars per head due to their overall weight.

When it comes to sex, steers consistently sell for more than bulls and heifers. Steers are already castrated, making them easier to manage and more desirable for feedlots. Bull calves, on the other hand, are discounted to reflect the costs and risks of post-sale castration - including labor, stress, and temporary weight loss.

The size of that discount depends on weight. Lighter bull calves receive a smaller per-pound discount than heavier bulls, but the absolute dollar difference is much greater today. A 5-10% discount at current prices can mean a $110-$220 loss per head on a 450 lb. bull - a steep increase from the $40-$80 differential in 2021.

Heifers are also typically discounted relative to steers, trading at 80-90% of steer value for 400-500 lb. calves. However, Maples notes that in recent weeks, heifers have averaged closer to 90%, narrowing the historical gap slightly. Bulls in the same weight class tend to range from 90-95% of steer prices, but also fluctuate more sharply depending on market dynamics and management.

Maples analyzed Oklahoma weekly price data to compare how heifer and bull prices track against steers. Using a four-week moving average for 400-500 lb. medium and large #1 cattle, the data reflects thousands of transactions and reveals consistent discount patterns based on sex and castration status - trends likely mirrored across much of the Southeast.

The data reinforces a key message for producers: even amid historic prices, not all calves are created equal in the market's eyes. Small differences in management can lead to hundreds of dollars in added value per head.

It's tempting, given this year's high prices, to think that good management might not matter as much. But Maples warns that this could be a costly miscalculation.

"Whenever light calves and bulls are worth more than top-quality heavier steers were a few years ago, it can mask the value of good management," he explains."But that value is actually larger now in most cases, thanks to today's elevated price levels."

For U.S. cattle producers navigating market volatility, drought conditions, and rising input costs, this year's price boom offers an opportunity - but also a reminder that best practices in animal health, breeding, and handling still yield the best returns.