LMA Auction Contribution
In a study commissioned by the Livestock Marketing Association, DIS analyzed the economic contribution of a representative Missouri livestock market to its local community.
Local livestock auction markets are crucial playes in the U.S. livestock production value chain, facilitating cattle movement and driving economic activity in rural communities. In 2023, a representative Missouri livestock auction market was projected to generate substantial economic benefits, including $2.0 million in total value added, 17 jobs, $888,000 in labor income, and $447,000 in state and local taxes.
The on-site café was also estimated to contribute to the economic impact of the livestock market, adding $17,000 in total value, 1 job, and additional tax revenues.
The Challenge
To quantify the direct, indirect, and induced economic impacts of a specific livestock auction market on its local community, providing a comprehensive assessment of its financial significance and support to the rural economy.
The Results
The analysis revealed that the Missouri livestock auction market significantly boosts local economic activity, creating jobs and generating substantial income and tax revenues. The findings underscore the market’s importance in sustaining rural economies and supporting community livelihoods.