Livestock auction markets are a key part of the livestock production value chain within the U.S. In addition to their role in facilitating the movement of cattle across the nation, local livestock auction markets are often a key driver of local economic activity, and they attract traffic to many local businesses which helps rural communities continue to thrive.
In a study commissioned by the Livestock Marketing Agency, DIS analyzed the economic contribution of a representative Missouri livestock market to its local community. During 2023, it is estimated that the studied livestock auction market in Missouri will contribute the following direct, indirect, and induced effects in and around the local community:
- $2.0 million in total value added
- 17 jobs
- $888,000 in labor income
- $447,000 in state and local taxes
- $108,000 in federal taxes
Additionally, the on-site café at the livestock auction market is estimated to contribute the following:
- $17,000 in total value added
- 1 job
- $10,000 in labor income
- $900 in state and local taxes
- $2,000 in federal taxes