Pearson attempted to auction Knickers off in October, but slaughterhouses said that he was too big, and would be a hazard to both machines and consumers, since his hung carcass would inevitably touch the ground, he told the Guardian.
Knickers, now an internet sensation, will live out the rest of his life on Pearson's farm in the town of Lake Preston, just southwest of Perth.
Naturally, after people learned of Knickers, they have not been able to stop talking about just how big he is.
A staggering steer in Australia has the internet - and the colossal cattle's owner - saying, "Holy cow". We kept him on because we thought he had potential to be a big steer but never imagined he'd grow to be this huge, ' he said.
Knickers the steer, centre, is in paddock with cow herd in Lake Preston, Australia last week.
The Largest Cow In Australia's Been Discovered And Bloody Hell, Look At That Thing
'He's our favourite and one of our best assets, he's part of the furniture now, ' he said.
Pearson told Network Ten Knickers "has had a hell of a time" with his sudden popularity but became agitated one day from too many people taking his picture.
'We always got comments from anyone who saw him but he's rapidly becoming a local celebrity now.
Shockingly, Knickers isn't the biggest steer, as in 2010 a steer named Bellino was measured at six feet and six inches at a show in Rome. The enormous steer in the state of Western Australia has avoided the abattoirs by being too big.
Mr Pearson - who owns about 20,000 cattle - reckons Knickers has a few years left.