Really must cast a loud yes vote for cows, though with one seriously important caveat: the circumstance has to match the animals or the farmer/homesteader will quickly be overwhelmed.
We kept a family milk cow while the kids were home. Carmen came to us as an older 3-cylinder Jersey (lost one teat to mastitis at some point long before we owned her). Because her age and relatively low milk production made here unsuitable for commercial farming but a good fit for us, we got her cheap.
Carmen is pictured below, there in our milking room. For years she gave us lots of fine, high quality (high cream!) milk, calves for steering (never once gave us a heifer) and plenty of hard work. Notably, she also transformed our pasture, and especially our barnyard, into rich, thick grass. (Properly managed ruminants eating grass and trampling and fertilizing the ground naturally create strong, high quality grasses. Even now, 15 years after the cows have gone, our barnyard grass is still full and healthy and in far better shape than any other grass on our property.)
By the way, “low” milk production was in the neighborhood of 2-3 gallons/day—more in the springtime after freshening—truthfully, too much milk for a single family. We drank some, separated some for cream, made fresh cheeses, and sent the remainder to friends who raised a pig for us every year (that milk-fed pork was the best we’ve ever had). At some point we decided to change over to a smaller breed (Dexters—also pictured below) to decrease the amount of milk and beef we were producing, which alas, turned out to be less successful. The Dexters were just not the best for hand milking. Handles too short and temperaments too flighty. That was about the time the kids left, makling any sort of family cow too much, so after a couple years we wrapped it all up.
For what it's worth, here is a bit of analysis and some suggestions and cautions, about family cows:
1. Be ready for a lot of work in all sorts of weather. Milking, water, fencing, barn, and gate management, pasture rotation, producing and/or transporting and storing hay for the winters, breeding (bulls can be worse than a nuisance—sometimes downright dangerous, so artificial insemination, as tricky as that can be, is best), hand-feeding calves, vetting, and of course all the myriad handling tasks, are all real jobs and require expertise, space, and equipment for safety and success.
2. As small farms decline, support for micro-operations like a 2 or 3 cow herd is harder and harder to come by. It was essentially impossible, for example, for us to find anyone to do the milking in a pinch. To solve that problem we simply stayed home all the time (can’t skip a single day when milking). We would try to dry her off around Christmas and time breeding for an April calf, which gave us three winter months of relative freedom, but getting that to work out was by no means guaranteed.
3. If I was to start it all again I’d avoid gambling on a heifer. Instead I’d find an Amishman willing to sell a proven cow that can stand still, and pay him what he asks.
4, If your own farm is diverse, all the better. Hogs and cows are a terrific match. Chickens are geniuses at picking flies from cow plops. Gathering and composting soiled cow bedding gathered from the free-stall as we did, is a great addition to the garden.
5. Notably, our health during our cow ownership period was stunningly good. Why? My opinion is that is was a combination of the labor, regular exposure to the outdoors, and most important, receipt of milk that had been customized to our farm and life. I was entirely free of infections then, including colds, and just felt great. I’ve read that milk cows sample the environment and instill biological protectors into their milk. I believe it. I guess, as the milker and handler, you are not only a recipient of the product, but a part of her sample as well.
6. A beef herd is much, much easier to manage than a single dairy cow.
That was a long post. I'm sure too much information for most. But I feel like I barely scratched the surface!