Farm Animals on Factory Farms, Chickens, Turkeys, Pigs. Livestock (also cattle) refers to one or more domesticated animals raised in an agricultural setting to produce commodities such as food, fiber and labor. The term “livestock” as used in this article does not include poultry or farmed fish; however the inclusion of these, especially poultry, within the meaning of “livestock” is common. Livestock generally are raised for subsistence or for profit. Raising animals (animal husbandry) is an important component of modern agriculture. It has been practised in many cultures since the transition to farming from hunter-gather lifestyles.