One way of looking at bull cost is the net cost per calf sired.  If a bull sires 15-20 calves a year for 2 or 3 years and has a near $1.00/lb salvage value when done, the net cost per calf is pretty reasonable.

I would think you can get a good registered bull for a small commercial herd this year for around $3,000. If its a bull that you will be keeping for a few years and building a herd from even then the bull cost per calf sired is not too bad. The salvage value of a bull these days is significant.

The market situation in western ranch country may be different.

I look at the calving ease, milk, fat and marbling EPD's mostly. The Hereford asssociation has a new EPD for mature cow size which should be useful in the future. It seems to me the key is finding the right bull for your needs.  jmho.

Jim at Dawn