The COVID-19 pandemic exposed the structural fragility of agricultural systems in southern Iran by disrupting production, marketing, access to inputs, and essential services. This study aimed to analyze and compare the adaptive capacity and adaptive strategies of smallholder farmers and livestock keepers in Khuzestan Province in response to this widespread shock. Using a qualitative approach and a six-dimensional adaptive capacity framework (including resources, information and knowledge, policies, governance, infrastructure, and perception), data were collected through 57 semi-structured interviews and analyzed using deductive content analysis. The findings revealed that in the absence of effective institutional support, farmers and livestock keepers adopted divergent strategies. Farmers focused on value chain restructuring, market diversification, and product transformation, while livestock keepers engaged in herd management adjustments, cost reduction, and increased reliance on local resources. Both groups drew heavily on social capital and informal networks to compensate for institutional gaps. The key contribution of this study lies in providing a comparative analysis of these two groups and highlighting the critical role of social capital in local resilience. We conclude that locally driven responses, despite structural constraints, offer valuable lessons for designing anticipatory policies, strengthening adaptive infrastructure, and reconfiguring governance to enhance agricultural resilience. These insights are crucial for preparing rural systems to better withstand and recover from future shocks.