1995 through 1997-1998 crop marketing years), 55 to 63 percent of U.S. feed grain production during this period (USDA, 2000a).
Corn provided 18.2 percent of cash receipts from farm marketings of crops between 1994 and 1998 (U.S. Department of Commerce, 2000, Table 1109). Sorghum and barley added another 2 percent of cash receipts from farm marketings of crops.
Hay is consumed by livestock and represented 3.8 percent of cash receipts from farm marketings of crops during this period.
Livestock agriculture is also the market or consumer for soybean meal and other oilseed meals. Soybeans accounted for 14.7 percent of cash receipts from farm marketings of crops between 1994 and 1998 (U.S. Department of Commerce, 2000, Table 1109).
Approximately 37 percent of U.S. oilseed output was consumed domestically as oilseed meal during the 1994-1995 through 1997-1998 crop-marketing years (USDA, 1996b, 1997b, 1998, 1999a).
In summary, livestock agriculture directly accounts for nearly half of U.S. cash receipts from farm marketings and provides the market for a significant fraction of the remaining portion of U.S. agricultural output.
The leading states in terms of annual cash receipts from livestock and products in 1997 and 1998, in decreasing order, include Texas ($8.2 billion), California, Nebraska, Iowa, Kansas, North Carolina, Wisconsin, Minnesota, Georgia, Arkansas, Oklahoma, Colorado, and Pennsylvania ($2.85 billion).
In many states, livestock agriculture accounts for more than 65 percent of cash receipts from farming. Examples include Alabama, Colorado, Delaware, New Mexico, New York, Oklahoma, Pennsylvania, Utah, Vermont, West Virginia, and Wyoming (U.S. Department of Commerce, 2000, Table 1113).
Livestock agriculture provides the basis for the meat, dairy, and egg processing industries. Meat products represent 49.8 percent of all non-metro food processing employment and 1 of 16 rural manufacturing jobs (Drabenstott et al., 1999). Finally, meat, dairy products, and eggs are important components of the U.S. diet (Table 2-1).
Economic characteristics of livestock agriculture addressed here include markets and prices, production costs, and industry structure.
Prices for livestock and products are determined in competitive markets. With the exception of federal marketing orders for dairy (see Blayney and Manchester, 2001, for a description of U.S. milk marketing programs), markets for livestock