How to I get my animals to like me?
In order to get your live stock to like you you should talk to them and brush them (the cows, sheep and horse). Also it does not hurt to put them out on rainy days and feed the sheep and cows some fresh growing grass. Feed your dog every day! Chickens should be fed everyday if their in the coop, you can risk putting them out (on the roof works best) but get them when it rains, snows, or disasters. They enjoy being picked up and dropped (press 'a' twice while near a chicken. If you want them to win their specific festivals and improve their products I suggest you follow these rules.
My dog/horse won't win their race!
Well if you want the dog to win the race feed him every day, and put him outside in sunny weather, rain, snow or worse will only do bad for him. Keeping him caged in stones or a fence also helps you get to him when you need to. For the horse just do three things everyday you can, talk, brush and ride him for a while.
My cow is producing a L milk and I am good to it every day, is their anything larger?
Yes, but it does not come easy. This milk is called the "G" milk or Gold/Special Milk. In order to get this your cow must win the Cow Festival. This does not come easy, you must brush, talk to and milk it EVERY DAY. This must also be over a long period of time until it will win, possible a year or two of constant training. Also it should/ must have large milk already. The special milk is worth 500G, daily with one to three cows is very good on your wallet.
What's the deal with the sheep's wool?!?
Well the adult sheep produce wool. It re-grows every week (7 days). It produces regular wool, if you treat it well enough by brushing it, talking to it and clipping it every time the wool comes back, it might produce Premium wool. This is worth twice as much as regular wool. Again this does nothing but help your wallet.
What do I do with the chickens?
Well you have to feed them every day in the appropriate bin (it says their name by it). This will make them lay eggs, you can also leave them out side, their they will find their own food. If you put them out side make sure to cage them or keep them on the roof. Get the eggs from where they are. Once again this can only help your wallet.
What does the baby/adult horse do?
Well the baby horse does nothing but grow when you talk to it and brush it, nothing put patience required. The adult horse requires only to be brushed to and ridden. You can not talk to the horse because the 'a' button gets on the horse, not talk to it. The horse's saddle also is a moving shipping box. Try to be accurate because he can cause you to drop several crops. Gain experience as you go. The horse can not leave the ranch, this should be possible, it would make foraging a lot quicker.