Applies to establishments engaged in operating feedlots or stockyards. Feedlots are large, enclosed yards usually with pens or stables where livestock, such as cattle, horses, sheep or pigs, are temporarily held for the sole purpose of supplying with feed and nourishment. Feed (such as corn or hay) is brought in bulk. Feed may be mixed in choppers and blown into feeder troughs. The livestock are raised until they reach certain weights, then sold to packing houses or slaughterhouses. Stockyards are holding areas (large, enclosed yards) where livestock are kept until they are sent for slaughter, sold or dispersed elsewhere.

This classification excludes packing houses or slaughterhouses which are to be reported separately in classification 4301 and livestock auction and sales yards or livestock buyers houses which are to be reported separately in classification 4304-02.

Applies to establishments engaged in operating livestock auction and sales yards and to livestock buyers. Operation of an auction and sales yard involves the exhibition and sale of cattle, horses, mules, sheep, hogs and goats. The premises usually consists of an arena, a grandstand for customers (both buyers and sellers), and outside pens or stalls for livestock. The livestock are usually dropped off by customers (farmers, ranchers, etc.), are tagged, recorded, checked by brand inspectors and veterinarians, and inspected by employees of the yard. If the animals are left prior to the day of the sale, the employees will feed the livestock and maintain the pens. When the auction begins, yard employees bring the livestock to the arena, parade them around for show, then take them back to the pens to be weighed. A recordkeeper usually assists the auctioneer during this activity. Recordkeepers engaged directly in the business of auctioning are subject to the auction classification. Livestock buyers view the livestock from an overhead viewing area or by walking through the pen area.