NAICS Code 1124 - Sheep and Goat Farming

NAICS 1124 - Sheep and Goat Farming

NAICS 11 - Agriculture, Forestry, Fishing and Hunting
NAICS 11 - Sector 11--Agriculture, Forestry, Fishing and Hunting NAICS 21 - Sector 21--Mining NAICS 22 - Sector 22--Utilities NAICS 23 - Sector 23--Construction NAICS 31 - Sector 31-33--Manufacturing NAICS 42 - Sector 42--Wholesale Trade NAICS 44 - Sector 44-45--Retail Trade NAICS 48 - Sector 48-49--Transportation and Warehousing NAICS 51 - Sector 51--Information NAICS 52 - Sector 52--Finance and Insurance NAICS 53 - Sector 53--Real Estate and Rental and Leasing NAICS 54 - Sector 54--Professional, Scientific, and Technical Services NAICS 55 - Sector 55--Management of Companies and Enterprises NAICS 56 - Sector 56--Administrative and Support and Waste Management and Remediation Services NAICS 61 - Sector 61--Educational Services NAICS 62 - Sector 62--Health Care and Social Assistance NAICS 71 - Sector 71--Arts, Entertainment, and Recreation NAICS 72 - Sector 72--Accommodation and Food Services NAICS 81 - Sector 81--Other Services (except Public Administration) NAICS 92 - Sector 92--Public Administration
- NAICS 112 - Animal Production
  NAICS 111 - Crop Production NAICS 112 - Animal Production NAICS 113 - Forestry and Logging NAICS 114 - Fishing, Hunting and Trapping NAICS 115 - Support Activities for Agriculture and Forestry
  - NAICS 1124 - Sheep and Goat Farming
    NAICS 1121 - Cattle Ranching and Farming NAICS 1122 - Hog and Pig Farming NAICS 1123 - Poultry and Egg Production NAICS 1124 - Sheep and Goat Farming NAICS 1125 - Animal Aquaculture NAICS 1129 - Other Animal Production

This industry group comprises establishments primarily engaged in raising sheep, lambs, and goats, or feeding lambs for fattening.

Industry trends:

The Sheep and Goat Farming industry, classified under NAICS 1124, is witnessing several qualitative trends that may shape its immediate future. One of the prominent trends is the rising consumer interest in sustainable and locally sourced agricultural products. Consumers are increasingly aware of the ecological footprint of their food choices, prompting a shift towards farms that employ organic and sustainable farming practices. This has led to a growing demand for meat, wool, and dairy products that are labeled as eco-friendly and ethically produced.

Another trend is the increasing integration of technology in livestock management. Farmers are adopting advanced health monitoring systems, automated feeding mechanisms, and data analytics to optimize production efficiency. These advancements help in enhancing animal welfare and reducing operational costs, thus improving profitability.

Market forecasts suggest a robust growth trajectory for sheep and goat farming, driven by the expanding popularity of goat milk products and sheep's cheese, along with a premium market for niche wool products. Additionally, there is a growing export potential, particularly to markets in Asia where sheep and goat meat are in high demand. However, farmers may face challenges related to climate change and fluctuating feed costs, which necessitate adaptive strategies to mitigate risks.

Overall, the industry appears poised for growth, bolstered by technological advancements, consumer preferences for sustainability, and expanding global markets. These factors collectively contribute to a positive outlook for sheep and goat farming in the near future.

This industry is comprised of:

NAICS 11241 - Sheep Farming

NAICS 11242 - Goat Farming

Explore related industries:

NAICS 3116 - Animal Slaughtering and Processing NAICS 3221 - Pulp, Paper, and Paperboard Mills NAICS 4225 - Farm product raw material wholesalers

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