Agronomic management strategies that integrate crop and forage production over summer have the potential to simultaneously increase grain and grazing productivity in the HRZ. Traditionally paddocks are phased from forage to grain production over winter and spring. However, the alternative of inter-cropping forages is expected to reduce 'paddock down time' between crop and pasture, increase stubble feed quality for livestock over summer, and improve soil conditions for grain production. This paper presents a whole-farm biophysical model and farm economic analysis, which were used in combination to determine the productivity and profitability potential of a prime lamb enterprise compared to mixed farming systems that include various forage species grown as an inter-crop with wheat and canola. This analysis showed intercropping was a profitable option for this farm business in southwest Victoria by increasing returns on total capital invested accompanied by a reduction in the variability around such returns. Intercropping with arrowleaf clover or lucerne were the most profitable intercropping options assessed. Introduction This paper focusses on arable land in the high rainfall zone (HRZ) of Victoria (annual rainfall > 500mm). This region has experienced significant structural adjustment over the past 25 years, with an increase in cropping and mixed farming systems. Since 1990, the gross value of cropping has increased by 410% in real terms from a low base to $235m, and gross returns from sheep meat has increased by 9% to $502m.