A study was conducted to evaluate the economic aspects of retaining ownership and rebreeding open spring-calving cows to be sold as pregnant fall-calving cows. Composite Red Angus × Simmental females diagnosed as non-pregnant after regular spring breeding season were utilized over a 2-yr period (Yr 1, n = 61; Yr 2, n = 72). Hay and supplement were fed from November to February. Cows diagnosed as non-pregnant after a second breeding season were sold in March. Pregnant cows grazed Sandhills meadow pastures until April, when they were sold. Cows were synchronized with a 7-d controlled internal drug release (CIDR)-PG protocol before a 60 d natural service breeding season beginning in November, utilizing a 1:25 bull to cow ratio. Pregnancy diagnosis was determined by ultrasound 30 d after bull removal. A partial budget analysis was performed for Yr 1 to compare the economics of selling non-pregnant cows immediately after pregnancy diagnosis or retaining ownership and rebreeding them to sell as pregnant cows in more favorable market prices. Total cost was calculated by adding the purchase price (cull cow value at first pregnancy diagnosis), feeding costs, meadow grazing and management cost, breeding cost, and 6% annual interest rate on the purchase price. The net cost of 1 pregnant cow was calculated as the difference between total cost and cull value, divided by the number of pregnant cows. The overall rebreeding pregnancy rate was 90.2% for Yr 1 and 81.9% for Yr 2, the percentage of the pregnant cows that conceived in the first 21 d of the breeding season was 89.1% for Yr 1 and 79.7% for Yr 2. The total cost/female was $1,186.38. Subtracting the cull value of the open cows sold in March, the net cost of one pregnant cow was $1,185.08. The pregnant cows were sold for $1,638.00, resulting in a $452.92 net gain/pregnant cow. While conventional wisdom has held open cows should be sold after pregnancy detection, we conclude rebreeding a non-pregnant cow to be sold at higher market prices may be an economic alternative.