Four different grazing systems: two rotational systems, a continuous grazing system, and a modified high intensity, short duration (mob)system were evaluated from an economic return and risk perspective. Stocking rates and average daily gains (ADG) were obtained from 2011 - 2014 from university ranch experiments in northern Nebraska. Simulation models were used to examine net returns and risk in each system and rank systems according to risk preferences. a twice through rotational grazing system was most profitable. Mob grazing was the least preferred, although when risk aversion increased, it rose in preference. Mob grazing could be profitable if adjustments increased animal performance.