It is often recommended that ranchers stock at a moderate stocking rate to avoid overgrazing and to manage for dry conditions. However, during severe multiyear droughts, even moderately stocked rangelands become overstocked, and managers are forced to sell breeding stock to adapt. Depending on market conditions during and after drought, liquidating breeding stock can have significant financial impacts on the operation. Developing plans that provide for interannual variability can give producers the opportunity to take advantage of above average years and prompt action in poor years.