July 13, 2007

Livestock industry in Illinois shows signs of picking up after long decline

The livestock industry in Illinois has been stabilized and is growing in some sectors, according to a University of Illinois report.

The Midwest state produced close to US$2 billion in livestock products each year and has a total economic impact of US$3.2 billion according to Peter Goldsmith, an associate professor of agribusiness and the Soybean Industry Endowed Chair in Agricultural Strategy.

The state's 326 meat and dairy processing firms add another US$10 billion in direct output products and US$20 billion in total economic impact.

The livestock products and meat and dairy processing sectors provide employment to close to 120,000 people in the state.

Not only is the industry a significant provider of output, jobs, taxes, and exports from the state, it also provides a viable market for the state's grain producers, the report said.

Although the state's livestock sector has been in steady decline for the last 30 years, the downward trend has become stabilized from 1999 to 2004.

Livestock production and meat and dairy processing still play an important role in the state's economy and can be particularly important in certain regions of the state, the report concluded.