Energy balance and serum progesterone concentrations were monitored during early lactation in a group of high producing Holstein cows. The postpartum interval to normal ovulation averaged 36 +/- 6 days (range 6 to 83 days). Average energy balance during the first 20 days of lactation (cumulative daily calculated energy balance divided by days in milk) was inversely related to days to normal ovulation (r = -.60) and to milk production (r = -.80). Milk yield during this period was not closely related to days to ovulation (r = .30). Milk yield was also not significantly related to serum prolactin concentrations over the first 12 weeks of lactation (r = .27). During early lactation, energy balance was maximally negative until peak milk yield and then began returning toward zero, with the magnitude and duration of negative energy balance being quite variable. On the average, ovulation and the initiation of the first normal luteal phase occurred approximately 10 days after energy balance began returning toward zero. During this 10-day interval, a transient elevation in serum progesterone concentrations occurred in eight of 13 cows. These results suggest that energy balance during the first 20 days of lactation is important in determining the onset of ovarian activity following parturition.