A study was conducted to analyze the constraints and benefi ts perceived by the contract goat farmers and the contractors involved in in-formal contract goat farming taking place in Western Odisha region. Sixty contract goat farmers and thirty contractors were interviewed with semi structured interview schedule within a period of 60 days i.e. January 2013 to March 2013. Study revealed that disease outbreak and loss of animal due to predators were the primary constraints for contract farmers. Very few farmers opined that they should get a greater share than the contractors as they are the key persons to look after the care and management of the animals. Cent percent contract farmers found Contract Goat Farming (C.G.F.) as profi table without any capital investment and also it provides them an easy liquidity of their animals at the time of necessity. From contractors’ point of view, communication gap between contractor and farmer which lead to embarrassed situation is the major constraint followed by cheating by farmers at many occasions due to non identifi cation of the contract animals. But, cent per cent contractors agreed that there is easy return from CGF at the end of the year. However, 80% opined that the better linkage with the veterinary professionals and 27% felt no risk of mortality and morbidity so directly benefi ted in contract goat farming (CGF).