The objective of this seminar is to orient the students on how to inspect a livestock ranch, analyze water rights, soils, grazing permits and leases, prepare a land inventory, estimate forage production (carrying capacity) and analyze forage balance. This seminar addresses only ranches whose Highest and Best Use is as a livestock ranch. The students will be exposed to the three approaches to value and different sales analysis methodologies for valuation of ranches. This seminar offers an perspective to appraisers, real estate brokers, lenders and investors of how to analyze and value a livestock ranch.