Studies of ovarian follicular dynamics in cattle may lead to methods for improving fertility, for synchronizing estrus with more precision, and for enhancing superovulatory responses. Within an estrous cycle, two or three large (> 10 mm) follicles develop during consecutive waves of follicular growth. The last wave provides the ovulatory follicle, whereas preceding wave(s) provide follicles that undergo atresia. The life span of large follicles seems to depend on the pulsatile secretion of LH; decreased frequency of LH pulses results in atresia of large follicles. Aromatase activity in the walls of the largest follicles is greatest during the first 8 d of the estrous cycle and decreases by d 12. Steroidogenesis of the largest and second-largest ovarian follicles differs on d 5, 8, and 12 of the estrous cycle. Follicular dynamics are altered by negative energy balance and lactation. The number of large follicles and concentration of estradiol during the preovulatory period differs between postpartum lactating and nonlactating cows. Dietary fats stimulate follicular growth when they are fed to increase energy balance. Administration of bovine somatotropin decreases energy balance and has a differential effect on ovarian follicular responses; growth of the largest follicle does not change, but growth of the second-largest follicle is stimulated by somatotropin. Studies of follicular dynamics in lactating cows demonstrate changes in ovarian function associated with energy balance that may be related to inefficient reproductive performance of cows producing high yields of milk.