No way for anyone to start from scratch, with land prices like they are, taxes like they are, equipment high as it is, fertilizer. IF someone had several hundred thousand dollars to start a cattle farm, they'd be better off to invest it in other ways. Makle their money, and have a few cows, horses etc., as a hobby. I have always bought futures as part of my investments portfolio over the years, and they have done well. Livestock? Horses and cattle? I have never made any real money breeding or raising them. Sometimes I made a little bit training. and, I have always made a little money standing my stallions. But, I have made a lot of money trading....buying and selling.... both horses and cattle. From 5 and 6 figure horses .. 5 figure bulls,.... to 3-figure horses and cows at auctions.
Same thing with hay. I have made a LOT of money buying and selling hay that we don't raise around here and bringing it in..alfalfa, timothy and mixes, than I ever did with my own Bermuda...fertilized to specs and cut 3 or 5 times a year. Maybe a cutting or two...or sometimes a whole year,,,goes by with perfect weather and no equipment tearing up...but overall...nah...no real money made considering the money invested and the TIME!
Have made a little money hauling cattle, and even more hauling horses. But, if a kid asks me about what to get into as far as cattle goes, I tell them to learn how to be a trader...how to buy and sell. The best at it are born with the instinct, but the craft can be learned.
I have had clients that I sold some horses for that brought a million dollars and they made probably $500k off of them. I made my $100k. I have sold out horses and cattle for people losing their farms, or getting out of the business, for a $1mil, that they had $5 mil in, and lost their butts. I made $100k.
Livestock brokers are like Wallstreet stockbrokers... they get paid everytime you buy and sell, even when you sell at a loss.