Thanks for the post McDonald.  That is basically the same thing I have been seeing. No way to make the numbers work out buying in winter feed/hay when you feed 5.5 to 6 months out of the year in a cow-calf operation.

I don't know of much rented pasture land around here. If its rented it's likely got corn on it.

Rotational grazing increases carrying capacity during the grazing season but that 6 months of feeding hay is what determines a profit or loss.

Jim