Cattle prices this fall are shattering historical records, with nearly every weight class and type of animal bringing in unprecedented returns. According to Josh Maples, assistant professor and Extension economist at Mississippi State University, the 2025 fall run is not only notable-it's rewriting the economics of calf marketing.

Just four years ago, 650 lb. steers in Mississippi averaged $850 per head. Today, those same animals are fetching around $2,200, while 250 lb. bull calves are exceeding $1,000 per head-a price that outpaces the 650 lb. steers from 2021.

The steep climb in values reflects broader shifts in supply and demand but also underscores the price premiums and discounts applied based on weight and sex of the cattle. Typically, lighter-weight calves command a higher price per pound due to greater growth potential and feedlot flexibility. Meanwhile, heavier animals tend to fetch higher total dollars per head, given the cumulative weight.

Steers consistently outpace bulls and heifers in value. The primary reason: steers are castrated, making them less aggressive and easier to manage-desirable traits for feedlot operators. Bulls, especially heavier ones, are often discounted to reflect the cost, stress, and weight loss of castration post-sale. That discount is now more costly than ever. At current levels, a 5% to 10% reduction in bull prices translates to $110 to $220 per head-up from just $40 to $80 a few years ago.

Heifers, on the other hand, generally trade at 80% to 90% of steer prices for similar weights. In Oklahoma, where transaction volume allows better analysis, 400-500 lb. heifers are currently averaging about 90% of steer value-a roughly 10% discount. Bull calves in the same weight class usually hover at 90% to 95% of steer value, though dips below that range are not uncommon.

The implications for management strategy are significant. "When light calves and/or bulls are worth more today than top-quality heavier steers from a few years ago, it can mask the value of good management," Maples writes. However, he adds, proper management-including timely castration and weight targeting-still adds significant value, particularly in today's premium market.

Maples' analysis is based on Oklahoma price data from 2010 to 2025, using a four-week moving average of 400-500 lb. Medium and Large #1 cattle. While the focus is on Oklahoma, the trends likely reflect broader Southeastern U.S. market patterns.

These record price levels are not just a win for current sellers-they are also reshaping producer decisions on breeding, calf care, and marketing strategies going into 2026.