The maximum area that you can enclose with 3000 feet of Fencing would be a circle of radius 477.46 feet. This circle would have an area of 716197.2 square feet which is 16.442 acres.
The minimum area that you can enclose is infinitesimally small - go for a very, very long and very, very narrow area.
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If it is exactly 40 acres square it will take one mile of fencing or 5,280 feet. However most tracts of land are 40 acres more or less meaning they are approximately 40 acres. 40 acres is one quarter mile long on each side more or less.
If the acreage is a square, you'll need 6,467 feet of fencing to enclose the area.
50 ft * 20 yards = 50*60 = 3000 square feet = 3000/43560 acres = 0.069 acres, approx.
9013 ft. square pasture
You will need a minimum of 160 feet of fencing for the perimeter of that size area.