Based on the comprehensive understanding of the grassland ecological reward and subsidy policy, the input and output data of 13 divisions of Xinjiang Production and Construction Corps were collected. In order to analyze the correlation degree between the policy input items and the total output value of animal husbandry, the gray absolute correlation, gray relative correlation, gray comprehensive correlation and Deng’s correlation were used. The results showed that the forbidden grazing subsidy, the balanced reward of grass and livestock, the available area and the total area of grassland were the top factors, which had a greater impact on the total output value of animal husbandry; the forbidden grazing area and the balanced implementation area of grass and livestock were the lower factors, but had less impact on the total output value of animal husbandry. On this basis, qualitative suggestions were put forward to the research area.