NAICS 311119 Quarterly Industry Report
Other Animal Food Manufacturing
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 311119Sector: 31Updated: Q1 2026
About This Report
This Fair Market Value industry report for NAICS 311119 provides valuation-focused intelligence for professionals assessing animal feed manufacturing businesses. Additional data is drawn from Bureau of Labor Statistics[8], U.S. Census Bureau[9].. Data is sourced from USDA ERS[7] feed grain use data, FDA[10] animal feed safety standards, and SBA size standards[11] to support business appraisals, acquisition due diligence, lending decisions, and investment analysis for animal feed manufacturing enterprises.
Industry Snapshot
Key metrics for the other animal food manufacturing industry.
Industry Definition & Overview
Other Animal Food Manufacturing (NAICS 311119) encompasses establishments primarily engaged in manufacturing animal food from ingredients such as grains, oilseed mill products, and meat products for livestock, poultry, aquaculture, and specialty animals other than dogs and cats. Products include complete feeds, feed concentrates, premixes, supplements, and custom-blended rations formulated for cattle, hogs, poultry, horses, fish, and other production and companion animal species. The U.S. Census Bureau[5] distinguishes other animal food manufacturing from dog and cat food production (NAICS 311111), recognizing the production-agriculture orientation and distinct market dynamics of livestock feed manufacturing.
The U.S. animal feed industry processes millions of tons of grain, oilseed meal, and byproduct ingredients annually into formulated feeds that support domestic livestock and poultry production. The FDA Center for Veterinary Medicine[6] regulates animal feed safety, including the Veterinary Feed Directive governing medicated feeds and the Current Good Manufacturing Practice requirements for feed facilities. Regional feed mills serve local livestock and poultry producers, while national operations supply integrated poultry and swine companies with millions of tons of finished feed through company-owned or contract manufacturing facilities.
Business valuations for animal feed manufacturers center on mill processing capacity and equipment condition, ingredient sourcing relationships, customer concentration across livestock and poultry integrators, geographic market position relative to grain supply and animal production density, and formula expertise for species-specific nutrition. Appraisers evaluate tons per hour throughput, feed conversion efficiency metrics, grain procurement strategies, and the mix of branded versus custom toll manufacturing revenue. The USDA Economic Research Service[7] tracks feed grain use and livestock production data that inform demand projections in income-based valuation models.
What's Included in This Industry
- Sector-specific valuation multiples and financial benchmarks for animal feed manufacturing operations
- Revenue and profitability analysis across livestock, poultry, equine, aquaculture, and specialty feed product segments
- SBA size standard classification and lending threshold data for NAICS 311119
- Comparable transaction data from recent feed mill acquisitions, company sales, and manufacturing facility purchases
- Regional market analysis covering feed grain pricing, livestock production density, and mill capacity by geography
- Workforce and labor cost benchmarking for mill managers, feed mixers, quality assurance technicians, and delivery drivers
- Industry risk assessment including grain commodity price volatility, customer concentration, regulatory compliance, and livestock cycle impacts
- Regulatory compliance overview covering FDA feed safety requirements, medicated feed rules, and state feed control registration
- Capital expenditure profiles for hammer mills, mixers, pellet mills, extruders, bulk storage bins, and delivery truck fleets
- Production metrics including tons per hour, capacity use rates, feed cost per ton, and ingredient shrinkage benchmarks
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Subsector | Food Manufacturing | 311 |
| Industry Group | Animal Food Manufacturing | 3111 |
| NAICS Industry | Animal Food Manufacturing | 31111 |
| National Industry | Other Animal Food Manufacturing | 311119 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 311111 | Dog and Cat Food Manufacturing | Dog and cat food manufacturing operations that share ingredient sourcing networks, milling equipment, and feed safety regulatory frameworks with other animal food producers |
| 311224 | Soybean and Other Oilseed Processing | Soybean and other oilseed processing establishments producing soybean meal, canola meal, and other protein ingredients for animal feed manufacturing formulations |
| 311221 | Wet Corn Milling and Starch Manufacturing | Wet corn milling operations producing corn gluten feed, corn gluten meal, and distillers grains used as ingredient components in animal feed manufacturing |
| 424510 | Grain and Field Bean Merchant Wholesalers | Grain and field bean merchant wholesalers supplying corn, soybean, and other feed grains to animal food manufacturing operations for feed formulation |
| 424910 | Farm Supplies Merchant Wholesalers | Farm supply merchant wholesalers distributing manufactured animal feeds from mill operations to livestock and poultry producers through retail feed store networks |
| 112120 | Dairy Cattle and Milk Production | Dairy cattle operations purchasing customized feed rations and total mixed rations from animal food manufacturers for milk production herd nutrition programs |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | Texas | 7.4% | 106 |
| 2 | California | 6.6% | 94 |
| 3 | Iowa | 6.4% | 92 |
| 4 | Pennsylvania | 5.3% | 75 |
| 5 | Wisconsin | 5.1% | 73 |
| 6 | Minnesota | 5.0% | 72 |
| 7 | Missouri | 3.7% | 53 |
| 8 | Ohio | 3.6% | 52 |
| 9 | Indiana | 3.6% | 52 |
| 10 | Kansas | 3.3% | 47 |
% Of Establishments
0%
7%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
80
Total SBA Loans
$8.7M
Total Loan Volume
$109K
Average Loan Size
11 yrs
Average Loan Term
10.69%
Average Interest Rate
272
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: The SBA[12] classifies Other Animal Food Manufacturing (NAICS 311119) with a size standard of 1,000 employees. Many animal feed mills are cooperative-owned or independent operations that qualify for SBA-backed lending[13] and USDA rural development programs through the Rural Development[14] agency. Eligible businesses can access SBA 7(a) loans[15] for working capital, equipment, and acquisition financing, while 504 loans[16] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Hanover Community Bank | 8 | $2.8M | $346K |
| 2 | The Huntington National Bank | 24 | $2.1M | $86K |
| 3 | Sovereign Bank | 8 | $1.8M | $220K |
| 4 | Northeast Bank | 8 | $800K | $100K |
| 4 | Newtek Bank, National Association | 8 | $800K | $100K |
Frequently Asked Questions
Common questions about this industry.
What is the NAICS code for animal feed manufacturing?
Other Animal Food Manufacturing is classified under NAICS code 311119, covering feed production for livestock, poultry, and specialty animals other than dogs and cats per the U.S. Census Bureau[5] industry classification system.
What is the SBA size standard for animal food manufacturing?
The SBA[12] sets the size standard for NAICS 311119 at 1,000 employees, qualifying eligible animal feed manufacturers for small business lending programs and government contracting preferences.
How are animal feed mills valued?
Valuations focus on mill processing capacity, equipment condition, customer contracts, geographic market position relative to grain supply and livestock production, and formula expertise per USDA ERS[7] feed use data.
What regulations govern animal feed manufacturing?
The FDA Center for Veterinary Medicine[6] enforces feed safety regulations including Current Good Manufacturing Practice requirements, Veterinary Feed Directive rules for medicated feeds, and ingredient approval standards.
What are the main animal feed product types?
Product categories include complete feeds, concentrates, premixes, supplements, mineral blocks, and custom-blended total mixed rations formulated for cattle, swine, poultry, equine, aquaculture, and specialty animal species.
What risks affect animal feed manufacturing?
Major risks include grain commodity price volatility affecting ingredient costs, customer concentration with large livestock and poultry integrators, regulatory compliance with feed safety standards, and livestock industry cycle impacts on feed demand volume.
How does feed grain pricing affect feed manufacturers?
Corn and soybean meal represent the largest ingredient costs, with pricing tracked by the USDA ERS[7], and manufacturers manage exposure through formula pricing contracts, forward purchasing, and cost-plus pricing agreements with customers.
What drives demand for commercial animal feed?
Domestic livestock and poultry production volumes, feed conversion efficiency improvements, and the shift from on-farm mixing to commercial feed manufacturing drive industry demand per USDA NASS[17] livestock inventory data.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]U.S. Census Bureau census.gov
- [6]FDA Center for Veterinary Medicine fda.gov
- [7]USDA Economic Research Service ers.usda.gov
- [8]Bureau of Labor Statistics bls.gov
- [9]U.S. Census Bureau census.gov
- [10]FDA fda.gov
- [11]SBA size standards sba.gov
- [12]SBA sba.gov
- [13]SBA-backed lending sba.gov
- [14]Rural Development rd.usda.gov
- [15]SBA 7(a) loans sba.gov
- [16]504 loans sba.gov
- [17]USDA NASS nass.usda.gov
Disclaimer
This publication has been prepared by Fair Market Value (“Fair Market Value”) for informational purposes only. It is provided on an “as-is” and “as available” basis. Fair Market Value makes no representations or warranties, express or implied, regarding the merchantability, fitness for a particular purpose, completeness, or accuracy of the data or information contained herein. This publication is not intended to be, and should not be construed as, professional financial, legal, tax, or investment advice. Users should consult with qualified professionals before making any financial or business decisions based on the information presented.
To the extent permitted by law, Fair Market Value disclaims all liability for loss or damage, direct and indirect, suffered or incurred by any person resulting from the use of, or reliance upon, the data in this publication.
Copyright © 2026 Fair Market Value. All rights reserved. All data, information, articles, graphs, and content contained in this publication are copyrighted works and Fair Market Value hereby reserves all rights. No part of this publication may be copied, reproduced, republished, uploaded to a third party, or distributed without the prior written permission of Fair Market Value.