Geez, I hate to be the turd in the punchbowl guy and end this thread, cause it's a good one, but I think the answer is "it depends" That's the answer to so many things in life.....
Where you're located, how many fields you have use of, how much help you have, how many cows you have, how able bodied you are, how committed are you? The list goes on forever.
I have 30 head of beefers with a max size of 45 is all I will grow to. I make all my own hay (400 rounds) and sell 120ish. I hay about 100 acres split between about 12 fields (that seems to be growing every year cause no one in my area seems to want to hay. (maybe they are smarter than me, ha) Also I am in an area where there might only be 4 or 5 cattle operations in the town.
I would guess I have around 150k worth of equipment (all paid for), but my thought is if you buy quality equipment and take care of it, when you sell, you will get a lot of that money back.
Heck, I paid 4300 for a 1980 40 series Deere with 4500 hours on it 25 years ago. 2wd/loader. That tractor has 9000 hours on it. I bet I could get as much, as I paid for it if I sold now...
Farmers are the richest folks in the world, we just don't realize it until we sell...