Upland livestock systems dominate land use on upland semi-natural habitats of high conservation value. The future is unclear. CAP reform is likely to highlight the poor financial performance of hill livestock, cross compliance may be very light and agri-environmental support for positive management is likely to be limited. There is much debate about management for different objectives. Trends of abandonment of livestock grazing may continue. This paper highlights alternative outcomes of management of semi-natural grasslands and the linked impacts on livestock production.