Methodology for a comprehensive evaluation of production and economic variables for suckler herd production in Slovakia were developed using herd records from 2008 through 2012. Major characteristics of the production system were considered. Among other conclusions, the number of weaned calves as the only product of the system depended mostly on cow fertility and affected both revenues and costs. Herds were characterized by low labour requirements and capital investments. Feed costs were an important component in the calculation formula. Strict adherence to traditional seasonal winter calving (mainly in January-March) was critical for the investigated cow-calf system, because it facilitates effective grazing management and thus reduces costs of feed for cows and calves during the spring season. To rationally model the suckler cow production system and to properly allocate revenues and costs, the accounting period should be based on the production year (October- September). At no time over the period under investigation was the average herd profitable, even when direct subsidies were included in annual revenues. The most favourable economic outcome across years (-208 Euro per cow per year in 2008) was achieved primarily thanks to lower costs per feeding day (-48%) and higher average daily gain of calves till weaning (+18%) than in the other years.