Livestock includes chinchillas, mink, foxes and other furbearing animals .
Therefore, assuming the cat meets these tests, the cat will be depreciable unless the catbreeding activity is subject to the passive loss rules, at risk limitations, or the rules denying losses for activities not engaged in for profit. If you sell the cat it will be treated as Section 1231 property, and depreciation will have to be recaptured, unless the disposition is in connection with a divorce. To avoid recapture, it's best to contribute the depreciated cat to charity.