Whereas the beneficial effects of cooling cows during lactation are clear, less work has been done to examine the impact of dry cow cooling on subsequent performance and health, and on the developing fetus. This presentation will explore the recent work related to late gestation cooling on milk yield, metabolism, and immune status in the cow, and also reviews the effects of in utero heat stress on the heifer calf. Finally, the economic implications of heat stress in the dry period will be explored.