The objectives of this trial were to study the growth and development of hair follicles and cashmere traits in cashmere goats and to provide a theoretical basis for the regulation of secondary hair follicle development and the scientific breeding selection of cashmere goats. Twelve single-fetal female kids were selected as research objects. A long-term tracking plan was created to regularly determine their growth performance, cashmere performance, and hair follicle traits. The results showed no significant difference in live weight after the first and second combing. The cashmere yield and unit yield of the first combing were significantly higher than those of the second combing (p < 0.05). Sections of hair follicles showed that the primary hair follicles are almost fully developed by 1 month, and the secondary hair follicles are fully developed by 5–6 months after birth. The primary hair follicle density (PFD) and secondary hair follicle density (SFD) were highest at birth and decreased within 1 month; and SFD was stable at 5–6 months of age. The change of MSFD took a maximum time of 2 to 3 months. The S:P increase reached its peak at 6 months. BMP4 expression increased with time. FGF2, FGF21 and BMP7 were higher at 3 months old than at the other two-time points. In conclusion, this study determined the total development time of primary and secondary hair follicles from morphology and speculated that FGF2, FGF21, and BMP7 may play a regulatory role in developing secondary hair follicles. Therefore, the period from birth to 6 months of age was the best time to regulate secondary hair follicle development in cashmere goats kids. The traits of the hair follicle and cashmere at 6 months of age could be breeding selection indicators for cashmere goats.