Body weight gains and height at the withers were measured in yearling geldings grazing bermudagrass (Cynodon dactylon [L.] Pers.) pastures with neither energy nor protein feed supplementation at stocking rates of 6.7, 8.0, 9.5 and 12.4 yearlings per hectare. Weekly forage samples were taken to estimate the quantity and quality of available forage. These samples were clipped and separated into three equal lengths to characterize upper, middle and lower thirds of the canopy and to determine relationships between available forage and yearling growth rate. Average daily gain was influenced by stocking rate, but gain in height was not affected by stocking rate. Average daily gain ranged from -.31 to .37 kg/d and was negatively related to stocking rate. A quadratic relationship between available forage and ADG was detected. However, a linear relationship between ADG and available forage in top layers of the canopy indicated that animal performance might have been limited by availability of top layer forage in pastures subjected to light grazing pressure.