For the people who think it's foolish to sell your top replacement females, I have some registered cattle and talk a lot with other registered guys, and here is the logic behind it (bear with me, I'm not sure how long this will be) :
1. By selling people your best genetics, they are more likely to be pleased with the results and are therefore more likely to come back and buy more
2. The idea behind buying the best bulls you can afford is that every heifer will be an improvement to her mother, so even if she isn't your very best in the crop, if her mother is good enough to stay in your herd, why shouldn't she be?
3. Just because a heifer isn't the best in her group, doesn't mean she isn't quality enough to stay.
4. If a heifer is a true cull, then send her to the sales barn without papers and let her go to slaughter. No point in keeping those genetics. Consider culling mama too.
5. In most cases, you should have a full sibling to your best calf due next year, and that one you can keep.
6. Like I saw on another post earlier about signing contracts with bull selling; in this industry you are selling a name. You don't want culls associated with your name.
7. At a lot of registered cattle sales, the open heifers sell for greater than or equal to the price of a bred heifer. Why keep your heifers around for another year if you can sell them and turn around and buy a bred heifer of equal or better quality (someone thought she was worth keeping a year and even got her pregnant for you) and still come out with more money in your pocket? For example, at the Sullivan Farms Maternal Legends sale this last October the open heifers sold for an average between $12,000-$14,000 while the bred heifers sold for an average between $5,000 and $6,000.
I don't mean to step on anyone's toes, I just wanted to share my perspective and some of the logic behind it.