There are good prices for cattle, great prices for cattle, and then is the stratospheric price paid for a led steer in the United States last weekend.

Ten year old exhibitor Caeley Cody hit the jackpot at the San Antonio Stock Show and Rodeo on Sunday when her 1300 pound (589kg) Charolais steer named Rabbit won the Grand Champion steer prize in the junior livestock competition.

Rabbit then went onto sell the next day for a record $112,000 at the livestock auction.

The price equates to about 19,900c/kg liveweight in Australian currency terms.

The San Antionio Express said the steer was prepared by Caeley’s father Bill Cody, who bought Rabbit as a calf 12 months ago.

“I just got lucky,” Mr Cody told the newspaper after the auction. “No he wasn't. He's pretty good at this,” said his wife, Philly. Cody owns Bill Cody Show Cattle near Fort Worth.

The previous record of $110,250 set in 2005.

The San Antonio Express did not provide any details on who purchased the steer, or why the sale generates such lucrative prices.

The Codys said some of the windfall will go towards helping to pay college tuition fees for Caeley, who hopes to become a dentist or a doctor.

It was not the only record price for livestock achieved this month.

On February 18 in the United Kingdom a stud Limousin bull sold at auction for a world record of £126,000 (approximately A$185,000).

The Limousin bred by Glyn Vaughan of Machynlleth was sold to Alan Jenkinson of Penrith at Carlisle market in Cumbria.

The BBC reported that although the price was high, the new owner should be able to quickly recoup the money through breeding.

The previous record price paid for a bull in the UK was £105,000. 

* Entries are still being received for the led steer competition at this year's Beef 2012 expo in Rockhampton. 

Classes include milk tooth steers from 350-450kg, milk tooth steers from 451 to 525kg, milk tooth steers from 526-600kg and milk tooth steers from 601-720kg.

Prize money for led steer classes is $150 for first place, $100 for second, $50 for third, $25 for fourth and $20 for fifth.

For further competition and entry details click here