Cattle have a rich and diverse global history and were among the first domesticated animals, providing a rich source of food as well as animal power for laboring in fields and transport. The word cattle originally meant "possession", hence the similarity to chattel - but now refers to bovines. Breed registrations across the globe now refer to over 900 different breeds of cattle with some able to trace their bloodlines back for six centuries.

Within the United States, the cattle industry has had significant impact on the history and landscape of several states. Distribution of cattle on feed in the United States is illustrated as follows:

***Data courtesy USDA

Live cattle come from feedlots where they have been fed a diet of grains and hay - usually in an average ratio of over eight pounds of feed per one pound of weight gain. When they weigh at or above 1,000 pounds they are sold to packing houses. This general weight range usually results in a 600-pound carcass that can produce just over 400 pounds of meat. These numbers can change based on a few factors, but this helps illustrate a general idea of weights and meat production.

Cuts of beef are as illustrated below:

Internationally, noteworthy producers, exporters, and importers in 2008 were as illustrated. For reference, the quantities are for 1000 metric tons, carcass weight equivalents:

***Data courtesy USDA

Choice beef - the high quality beef, just below prime in the grading system. A little over 50 percent of US carcasses qualify as choice grade. They have less fat and marbling than prime.

CWE - the abbreviation for Carcass-weight Equivalent, the weight meat products "converted to an equivalent weight of a dressed carcass" according to the USDA. This includes inedible bits like bone and ligaments.

Foot-and-mouth or hoof-and-mouth disease - A viral disease that is extremely contagious and can be fatal. It affects many cloven-hoofed animals. An identified breakout can often lead to quarantine and culling of herds.

In addition to the following variables, if you are trading live cattle, you will also want to be aware that the USDA issues reports that may impact the futures market including Cattle on Feed and Livestock Slaughter. These reports (and others) may be found in the economics and statistics sections of the USDA website.

Import and Export - Restrictions and trade agreements can often impact the quantity of imports and exports to and from various countries.

Health Issues - Concerns over red meat consumption and possible links to colon cancer or saturated fat values are often weighed against beef as a rich source of linoleic acid and B vitamins. As health news comes and goes, domestic consumption or demand may be impacted.

Mad Cow Disease - Otherwise known as bovine spongiform encephalopathy, Mad Cow scares can wreak havoc on the cattle industry and breakouts can lead to massive slaughter and burn campaigns. Since the BSE prion cannot be destroyed by cooking, the panic of spread can easily affect both demand and supply of cattle.

Feed Costs: Higher feed costs can typically affect the weight and rate at which a farmer will take livestock to market. Since cattle are fed a combination of roughage, grain and protein supplements (soybean meal is a popular protein source), prices for corn, alfalfa, soybean, and even wheat can impact choice of feed and affect the feed-to-meat conversion - as well as the number of days on the feedlot.

Beef cattle brings us steak, ground beef for hamburgers, roast beef, and a variety of other meat cuts which provide the majority of zinc in the average American diet. Beyond the obvious food products that come from cattle, medicines like insulin and estrogen come from their glands. Cowhide and leather, glue, and fertilizers are all byproducts of the beef industry. Tallow - also known as beef fat - is also an ingredient in various household and hygiene products like soap, candles, and cosmetics. Bones and horns are a source of gelatin used in marshmallows, candies, and other confections.