I have found that 'expensive' hay, that is alfalfa or clover based hay, is in fact the economical way to go. If you look at a quality text on animal feeding, such as Morrison's Feed and Feeding, alfalfa is worth fully 50% more per pound in energetic value for a cow than grass. Additionally, alfalfa is extrordinarily high in trace mineral. Think of it as the 'superfood' of grazing. Feeding alfalfa over the winter will saturate your cows' bodies with all the critical minerals. This way, the animals can better cope with the base mineral content of your pastures during the grazing season. You will also save on bags of unnatural mineral supplements that are often full of other, undesirable ingredients. Feeding top quality alfalfa will really show in the fertility of your animals, so that they breed back reliably and produce healthy calves. Improving the mineral content of your pastures is a slow process, whereas feeding alfalfa as opposed to standard grass 'cow hay' produces immediate results in your animals' yearly diet. Additionally, the manure produced by cows fed alfalfa will make much more mineralized
compost, which then serves to improve your pastures in time.
For me, feeding alfalfa hay through the winter is an indespensible component of maintaining a healthy pasture based herd. My cows get fat and sleek over the winter, rather than just getting by. This health then propells them through the grazing season, producing more milk and meat in a way that is most economical in the long run.
Small breeds are cheaper to raise, yes. But they are less economical from a labor standpoint. If you are going to the work of milking a cow, or butchering a bull, the labor is about the same for a Dexter or a Brown Swiss. The difference is twice the milk or twice the meat.
Another small consideration is that castration is totally counterproductive if you wish to butcher animals between 12-18 months of age. An intact bull will gain better than a steer, and butchered at a young age, the meat quality is indistinguishable. From a biodynamic standpoint, there is something much more vital and powerful about the meat from a bull than a steer as well. I will never castrate an animal again, unless I was going to raise an ox. (and somebody please remind me of just what a poor idea that is for a small farm next time I am thinking to give it a go. The horse, famous for a reason...)
hope this is helpful-