Cattle & Hog Wholesaling in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: April 2024
NAICS 42452Revenue
$15.1bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
6,003
Businesses
1,257
Wages
$XXX.Xm
Cattle & Hog Wholesaling in the US industry analysis
The Cattle and Hog Wholesaling industry's performance is largely driven by fluctuations in the price of red meat, which has increased substantially along with growth in per capita pork consumption. The COVID-19 pandemic combined with drought to limit industries involved in beef production. In 2021 alone, the price of red meat jumped 21.1% as drought conditions lowered herd numbers and increased the price of feed. Consequently, revenue has dramatically, growing at a CAGR of 12.9% to $15.1 billion over five years to 2023. With red meat prices continuing to grow, revenue is anticipated to grow an additional 16.8% in 2023.At large, this industry reflects major trends and fluctuations occurring in the wholesale trade sector. In recent years, the industry has experienced increasing consolidation among downstream meat processors and upstream livestock producers. Not only has volatility in red meat prices hindered industry profitability, but as more companies at the production and processing level vertically integrate to carry out their own wholesale functions, industry wholesalers will be locked out of the supply chain. This trend is also demonstrated by the fact that the largest cattle feedlots in the nation are owned by the largest meat and beef processors, which will use internal sales to carry out their own wholesale functions.The industry is expected to see growth temper moving forward. Although red meat prices are expected to fall from previous highs due to the pandemic, they will remain elevated relative to pre-pandemic norms even as inflation tempers. As a result, revenue is expected to grow at a CAGR of 2.3% to $16.9 billion. To the detriment of wholesalers, manufacturers' sales branches and offices (MSBOs) will gain a larger foothold and benefit from economies of scale. As some wholesalers struggle to stay afloat and decide to exit the industry altogether, industry profit is expected to stagnate.
Trends and Insights
- A drop in beef and pork production sent meat prices skyward. As a result, wholesale revenue has spiked since 2021.
- Wholesalers buying and selling live animals also load, transport and deliver livestock to their respective end markets. Cattle and cows comprise more than two-thirds of all industry sales.
- The Plains far and away holds the largest concentration of livestock wholesalers. Livestock is located there due to the abundance of feed and the ideal climatic conditions.
- Industry fragmentation prevents any one player from cornering a majority of the total market. However, the localized nature of livestock wholesaling ensures competition on a micro level is intense.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 12.9 % over the past five years, to reach an estimated $15.1bn in 2024.
Trends and Insights
Market supply conditions have fluctuated since the pandemic, rising selling prices
- According to the US Department of Agriculture's (USDA) Livestock, Dairy and Poultry Outlook, livestock inventories expanded prior to the pandemic, as ample cattle supplies depressed the price of red meat.
- Additional trends and insights available with purchase
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Livestock supply conditions are expected to improve, but meat prices will remain high
- Favorable weather conditions and improved supply-chains will enable wholesalers to maximize production.
Biggest companies in the Cattle & Hog Wholesaling in the US
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
Smithfield Foods Inc. | 770.6 | 13,741.2 | 1,783.2 |
To view the market share and analysis for all 1 top companies in this industry, view purchase options.
Products & Services Segmentation
Cattle & Hog Wholesaling in the US
Products & Services
Industry revenue is measured across several distinct product and services lines, including Cattle (except cows), Cows and Hogs. Cattle (except cows) is the largest segment of the Cattle & Hog Wholesaling in the US.
Trends and Insights
Cattle (except cows) represent the majority of sales
- Wholesalers are generally involved with four types of cattle: steers, calves, heifers and bulls. Steers are castrated bulls, which are prime beef-producing cattle.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Egg & Poultry Wholesaling in the US
- Fish & Seafood Wholesaling in the US
Complementors
- Meat, Beef & Poultry Processing in the US
- Beef & Pork Wholesaling in the US
International industries
- Hog & Pig Farming in Canada
- Livestock and Other Agricultural Supplies Wholesaling in Australia
- Livestock and Other Agricultural Supplies Wholesaling in New Zealand
- Live Animal Wholesaling in the UK
- Schweinehaltung
Table of Contents
About this industry
Industry definition
Establishments in this industry primarily wholesale livestock. Cattle, swine, sheep and goats are included, but horses and mules are excluded. Wholesalers may purchase livestock from feedlots, breeders or other ranchers and then sell to slaughterhouses, other feedlots and breeders and livestock buyers.
What's included in this industry?
Wholesaling cattleWholesaling swineWholesaling sheep Wholesaling goatsCompanies
Smithfield Foods Inc.Purchase this report to view all 1 major companies in this industry.
Related Terms
ESTRUS SYNCHRONIZATIONBOVINE SPONGIFORM ENCEPHALOPATHYBIO-SECURITYIndustry Code
NAICS 42452 - Cattle & Hog Wholesaling in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
A drop in beef and pork production sent meat prices skyward. As a result, wholesale revenue has spiked since 2021.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Wholesalers buying and selling live animals also load, transport and deliver livestock to their respective end markets. Cattle and cows comprise more than two-thirds of all i...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The Plains far and away holds the largest concentration of livestock wholesalers. Livestock is located there due to the abundance of feed and the ideal climatic conditions.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Industry fragmentation prevents any one player from cornering a majority of the total market. However, the localized nature of livestock wholesaling ensures competition on a ...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Smithfield Foods maintains a dominant position in the market. Nonetheless, the company generates only about a tenth of total wholesaling revenue.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Smithfield Foods Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Smithfield Foods Inc., and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
To protect animal health and prevent the spread of disease, states regulate interstate livestock movements, often through their departments of agriculture. Certificates of ve...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Larger players industry may have greater total costs, but tend to register higher profit using a low-margin/high-volume strategy. These establishments benefit from buying and...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
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Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Cattle & Hog Wholesaling in the US industry in United States in 2024?
The market size of the Cattle & Hog Wholesaling in the US industry in United States is $15.1bn in 2024.
How many businesses are there in the Cattle & Hog Wholesaling in the US industry in 2024?
There are 1,257 businesses in the Cattle & Hog Wholesaling in the US industry in United States, which has grown at a CAGR of 1.0 % between 2019 and 2024.
Has the Cattle & Hog Wholesaling in the US industry in United States grown or declined over the past 5 years?
The market size of the Cattle & Hog Wholesaling in the US industry in United States has been growing at a CAGR of 12.9 % between 2019 and 2024.
What is the forecast growth of the Cattle & Hog Wholesaling in the US industry in United States over the next 5 years?
Over the next five years, the Cattle & Hog Wholesaling in the US industry in United States is expected to grow.
What are the biggest companies in the Cattle & Hog Wholesaling in the US market in United States?
The biggest company operating in the Cattle & Hog Wholesaling market in United States is Smithfield Foods Inc.
What does the Cattle & Hog Wholesaling in the US in United States include?
Wholesaling cattle and Wholesaling swine are part of the Cattle & Hog Wholesaling in the US industry.
Which companies have the highest market share in the Cattle & Hog Wholesaling in the US in United States?
The company holding the most market share in United States is Smithfield Foods Inc..
How competitive is the Cattle & Hog Wholesaling in the US industry in United States?
The level of competition is moderate and increasing in the Cattle & Hog Wholesaling in the US industry in United States.
