Lane visits with Ty Thompson, auctioneer with Northern Livestock Video Auction, following their 2025 Early Fall Preview sale. Ty shares firsthand insights on record-setting calf prices, unprecedented demand in the beef market, and what it means for ranchers, feeders, and replacement heifer buyers. They also discuss herd size, the outlook for bred cattle, and a few notes on the lamb market. With 33,000 head of cattle and 3,000 head of sheep selling, this sale reflects the strength — and challenges — of today’s livestock industry.