A lot of the world production is grazing on land. Even in the US perhaps a huge percentage of the cattle growth is by grazing:

  Beef cattle production is done within a system that includes grazing on large amounts of land per cow; being fed high-calorie diets for a few months in large populations immediately prior to slaughter; long gestation and growth periods so that animals are sold for food 2-3 years from the time they were conceived; and, in most situations, more than two changes of ownership from birth to being sold for food.

I would like to see some figures, but my presumption is that your understanding is correct.

https://beef2live.com/story-world-beef-production-ranking-co...