To overcome grass supply shortages on the main grazing block, some pasture-based dairy farmers are using zero-grazing (also known as ‘cut and carry’), whereby cows are periodically housed and fed fresh grass harvested from external land blocks. To determine the effect of zero-grazing on cow performance, two early-lactation experiments were conducted with autumn and spring-calving dairy cows. Cows were assigned to one of two treatments in a randomized complete block design. The two treatments were zero-grazing (ZG) and grazing (G). The ZG group were housed and fed zero-grazed grass, while the G group grazed outdoors at pasture. Both treatments were fed perennial ryegrass (Lolium perenne L.) from the same paddock. In experiment 1, 24 Holstein Friesian cows (n = 12) were studied over a 35-day experimental period in autumn and offered fresh grass, grass silage, ground maize and concentrates. In experiment 2, 30 Holstein Friesian cows (n = 15) were studied over a 42-day experimental period and offered fresh grass and concentrates. Average dry matter intake and milk yield was similar for ZG and G in both experiments. Likewise, ZG did not have an effect on milk composition, body condition or locomotion. Zero-grazing had no effect on total nitrogen excretion or nitrogen utilization efficiency in either experiment, or on rumen pH and ammonia concentration in experiment 1. While zero-grazing may enable farmers to supply fresh grass to early-lactation cows in spring and autumn, results from this study suggest that there are no additional benefits to cow performance in comparison to well-managed grazed grass.