Since plants have only one mission in life--to go to seed as fast as possible--and cattle have only one mission in life--to eat grass--the whole system will balance perfectly, if the cattle can graze and progress at exactly the right pace . The problem with continuous grazing is this: the Cows win at their mission, and the plants loose-- they never get a chance to recover properly. That is where MIG comes into play. MIG allows the plants proper recovery time--enough time to try to put on bulk and make seeds. If orchestrated properly, the growth cycle can be intermittently interrupted by the grazing of the cattle, thus "resetting" the grass back to near-zero, and encouraging its natural survival instinct to grow again and thus feeding the cattle over and over again.
All this, as you might imagine, is very management intensive. We need to know the proper nutritional requirement of the cattle and the growth rate of the grass--both of which vary seasonally. This must be calculated, balanced and planned--very precisely and with great care. I personally dedicate between 1 and 3 hours daily to MIG on our ranch.
It's a ton of work. But when we are done, we get great cattle, healthy land and a productive environment. In my opinion, it's the only way to manage cattle properly.