An easy strategy to use is to dig up a 5 X 5 X 3 hole and create a small 1 X 1 X 3 island in the center to stand on. Hold a carrot to attract pigs, seeds to attract chickens, and wheat to catch sheep and cows. DO NOT FEED THIS TO THE ANIMALS. THIS IS YOUR RENEWABLE BAIT.Once you have caught enough animals in your small trap, bring out a sword and start killing.
I play minecraft on the PS3 so the way a catch my food is by finding wheat seeds for chickens, carrots for pigs, wheat for cows and then I put them in a pen and start breeding them till I have a HUGE farm and then I kill all of them but leave two of each kind of animal and start the farm all over.
I suggest using traps to catch your food instead of hunting. You should use a simple piston trap. Dig 4 blocks around 1 block and put 4 pistons in the 4 blocks. Then, cover the pistons with grass and put a pressure plate in the middle. Kill the animal after it gets trapped.