Eleven rajid species are taken around the Falkland Islands, with four species, Bathyraja griseocauda, Bathyraja albomaculata, Bathyraja brachyurops, and Raja flavirostris dominating commercial catches and generally occurring together. Catch limits for individual species are not used in management because species are not separated in the catch or reported separately. The catch per unit effort for the mixed rajid assemblage was standardised using generalised linear modelling techniques, and two production models were used to estimate stock size and sustainable yield. Maximum likelihood methods were used to demonstrate that there are two distinct rajid communities, one to the north and one to the south of the Falkland Islands, which have different sustainable yields. Changes in species composition over the 10-year course of the fishery confirm theoretical expectations that the larger, later-maturing B. griseocauda is being replaced in catches by the smaller, earlier-maturing B. albomaculata and B. brachyurops. These changes in composition were evident after only 6 years of directed fishing. The current fishery to the north of the Falkland Islands appears to be stable at an annual catch of about 3000 t, which is between 6.5 and 7.6% of the estimated pre-exploitation biomass.