One of the main production challenges associated with climate change is the reduction of carbon emissions. Increasing the efficiency of resource utilization is one way to achieve this purpose. The modification of production systems through improved reproductive, genetic, feed, and grazing management practices has been proposed to increase technical–economic efficiency, even though the “environmental viability” of these modifications has not always been evaluated. The objective of this study was to evaluate the use of feeding and management strategies on the carbon footprint (CF) and economic variables in the traditional cow–calf system in southern Chile using a simulation model. The modifications evaluated corresponded to combinations of stocking rate, use of creep feeding practices with different supplementation levels, and the incorporation of feed additives to the supplement, using factorial experiments. Additionally, the scenarios were evaluated with and without carbon sequestration. The CF for the baseline scenarios was 12.5 ± 0.3 kg of CO2−eq/kg of live weight (LW) when carbon sequestration was considered and 13.0 ± 0.4 kg of CO2−eq/kg of LW in the opposite case. Changes in stocking rate, supplementation level, and consideration of carbon sequestration in pasture and soil had a significant effect on the CF in all simulated scenarios. The inclusion of additives in the supplement did not have a significant effect on production costs. With regard to reducing greenhouse gas (GHG) emissions, incorporating canola oil presented the best average results. The model developed made the selection of environmentally viable feed strategies or management adaptations possible.