Livestock market historians will likely record 2025 as the year prices exploded beyond the wildest imaginations of even the most seasoned industry veterans. Holstein springers bested $4,000/head regularly through the year, and briefly surpassed $4,500 in Minnesota in late fall. Calves, too, saw prices that were unimaginable even a year ago, with Holstein heifer calves often exceeding $1,000/head and newborn beef-cross calves sometimes fetching $1,800/head or more this year.
But it appears that the doors that were once blown off the market bus through the year are settling back into place as year-end approaches. For the second consecutive month, Holstein springer values are down, falling $200-500/head in California and about $400/head in Minnesota month-over-month.
Calves, too, saw prices temper a bit in the past month. Holstein heifer calves stayed steady nationwide, but the test was extremely light – perhaps a signal that dairies are holding onto absolutely every heifer to bolster replacement inventories. Beef-cross calves – the runaway darlings of the 2025 marketplace – have also pulled back slightly in price, but remain well over $1,000 per head for newborns nationwide.
