A modern day homesteader seeks to be self-reliant, minimize their consumption, and live "off-the-grid" as much as possible. This may not include widespread cattle herding, like it did in years past. Instead, to reduce cost and labor, as well as work within less space, modern homesteaders are turning to a variety of homesteading projects, like bees, rabbits, herb gardens, and more.
Today's homesteaders will often employ skills of the past, like cooking from scratch, sewing, farming, butter-making, etc. in order to simplify their life and minimize their expenses. How much or how little of this replacement is done, is entirely up to the individual homesteader.