NAICS Code 424520-04 - Livestock Auction Markets (Wholesale)

Marketing Level - NAICS 8-Digit

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NAICS Code 424520-04 Description (8-Digit)

Livestock Auction Markets (Wholesale) is a subdivision of the Livestock Merchant Wholesalers industry that involves the sale of livestock through auctions to other businesses, such as meat processors, retailers, and other wholesalers. These auctions are typically held in a physical location, such as a barn or auction house, and may be conducted in person or online. The primary goal of these auctions is to provide a marketplace for buyers and sellers to exchange livestock, including cattle, sheep, pigs, and other animals.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 424520 page

Tools

Tools commonly used in the Livestock Auction Markets (Wholesale) industry for day-to-day tasks and operations.

  • Livestock scales
  • Auctioneer microphones
  • Computer software for online auctions
  • Livestock trailers
  • Livestock handling equipment, such as chutes and gates
  • Branding irons
  • Ear tags and tattoo equipment for animal identification
  • Livestock feed and water troughs
  • Livestock grooming supplies, such as brushes and clippers
  • Livestock health supplies, such as vaccines and medications

Industry Examples of Livestock Auction Markets (Wholesale)

Common products and services typical of NAICS Code 424520-04, illustrating the main business activities and contributions to the market.

  • Cattle auctions
  • Sheep auctions
  • Pig auctions
  • Goat auctions
  • Horse auctions
  • Exotic animal auctions
  • Online livestock auctions
  • Livestock auction houses
  • Livestock auctioneers
  • Livestock transportation companies

History

A concise historical narrative of NAICS Code 424520-04 covering global milestones and recent developments within the United States.

  • The Livestock Auction Markets (Wholesale) industry has a long history dating back to the 17th century when the first livestock auction was held in Virginia, USA. The industry has since grown and expanded worldwide, with notable advancements such as the introduction of electronic auctions in the 20th century. In the United States, the industry has faced challenges such as the outbreak of diseases like mad cow disease and foot-and-mouth disease, which led to a decline in demand for livestock. However, the industry has also seen growth in recent years due to the increasing demand for organic and locally sourced meat products.