The contract farming in goat, which is completely informal in nature without any stringent written agreement, has come into existence in rural India. This study was conducted with an objective to assess socio-economic status of contract and non-contract goat farmers. Data were collected through personal interview from 60 contract and 60 non-contract goat farmers in Odisha. The study revealed that in spite of little difference in age, the involvement of youth was more in contract goat farming compared to non-contract goat farming. Participation of female was low in contract goat farming in comparison to non-contract farming. Higher percentage of schedule tribe farmers had taken up contract goat farming as an occupation. Mean family size of the contract goat farmers was higher in comparison to the non-contract goat farmers. Mean education level and family education status of contract goat farmers were significantly lower to that of non-contract goat farmers. Contract goat farmers had a significantly lower land holding than non-contract goat farmers. Average flock and herd size of the contract goat farmers was lower thannon-contract goat farmers. Average farming experience among contract and non-contract goat farmers was 9.37 and 13.57 years respectively. Majority of the contract goat farmers were labor followed agriculture as their primary occupation. Social participation and assets possessed by the contract goat farmers was significantly low in comparison to the non-contract goat farmers. A significant difference was found regarding annual gross income of the contract and non-contract farmers i.e. 35485 and 56080 respectively whereas no significant difference was there regarding income from goat rearing i.e. 14861 and 15133 respectively.