The most common and most likely answer to this crossword clue is the 7 letter word RANCHED
I've seen this crossword clue in Financial Times
R
A
N
C
H
E
D
Buddy explains!
The straight part
We know that "Bred on a farm" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case bred on a farm = ranched.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does RANCHED mean?
RANCHED verb- To operate a ranch; engage in ranching.
- To work on a ranch