"Our
 results show that grazing lands generate soil carbon surpluses that 
could not only offset rural emissions, but could also partially or 
totally offset the emissions of non-rural sectors. The potential of 
grazing lands to sequester and store soil carbon should be reconsidered 
in order to improve assessments in future greenhouse gas inventory 
reports."
The above is from a meta-analysis by E.F.Viglizzo, M.F.Ricard, M.A.Taboadaae, and G. Vázquez-Amábilegh
See the abstract here: 
Reassessing the role of grazing lands in carbon-balance estimations: Meta-analysis and review.
 
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