This work studies the environmental impacts and economic performances of an Amazonian traditional beef farm, using a production cost and profitability analysis (Matsunaga et al., 1976) and a Life Cycle Assessment Standards Model (ISO 14044, 2006). The results reveal that economic and environmental performances share the same kind of determinants – low productivity of animals and land – which are major problems in Brazilian extensive livestock farms. Better management practices and technical efficiency associated with an “ecological intensification” of the production system could be a “win-win” strategy (Porter, 1991; Porter and van der Linde, 1995) in order to improve both performances.