We examined the nature of long-term grazing management implemented in 51 Travelling Stock Reserves (TSRs) in the Albury region, and investigated potential relationships between grazing intensity and conservation values. In general, grazing intensities in most TSRs decreased over the 22 year study period. Most TSRs were lightly grazed (density = 1.1 DSE/ha/year), and stocked for <2 months per year, but some were much more heavily grazed. Spring grazing intensity was found to be negatively associated with TSR conservation values. Our results suggest that grazing management aims to achieve both production and conservation outcomes are not necessarily exclusive to each other.