All Data from Cattle-Fax, February 2001, unless otherwise noted Summary As the largest segment of U.S. agriculture, the beef industry contributes to the American economy in many ways. Not only does the industry provide millions of jobs for Americans, but it generates business and revenue in a variety of different industry-related areas. Over the years, the beef industry has generated a substantial amount of economic output like no other commodity. American households, because of a stronger U.S. economy, rising wages, low inflation and a low unemployment rate, are beginning to increase their beef intake, and thus, contributing to beef s increasingly stronger effect on the American economy. The U.S. beef industry forms the largest part of the nation s food and fiber industry.
Agriculture is a significant segment of the U.S. economy.
The U.S. cattle industry is made up of more than 1 million small businesses farms or ranches operating in all 50 states. Half of all U.S. cattle businesses have been in the same family for at least 50 years. More than one million jobs are provided through the beef industry. While the U.S. has less than 10 percent of the world s cattle inventory, it produces nearly 25 percent of the world s beef supply. The cattle industry also generates a substantial ripple effect in the U.S. economy.