Add the minced beef, egg, milk, breadcrumbs, onion powder, garlic powder, dried parsley, salt and pepper to taste, and dried cranberries to a large mixing bowl. Mix everything together using your hands until well combined.
Take handfuls of the mixture, and roll it into balls. Place these onto the baking sheet. You should end up with approximately 14 meatballs.
Drizzle the olive oil evenly over the top of the meatballs.
Bake for 20 to 25 minutes, or until browned and fully cooked through.
To make the glaze, add the cranberry sauce, orange juice, brown sugar, and optional cayenne pepper to a medium-sized saucepan.
Heat over medium until boiling, stirring frequently.
Put the meatballs in a serving dish, and pour the cranberry glaze all over them.