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What would be most common for the owner of a bonanza farm?

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to move to a more productive land
raising large numbers of cattle.
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What was bonanza farm?

"The Cartwright family lived on the Ponderosa." (original answer)   My answer: While the Cartwright family did live on their ranch, the Ponderosa on the television show,

What is the most common farm animal?

That all depends on where you live. Sheep may be more common in some countries than cattle, and vice versa in another country, for instance.