Elk farming is an agricultural industry for the production of elk as livestock or for the sport of hunting. Elk have a variety of uses. The velvet antler or, the antler in the premature stages of growth, is believed by some to have medicinal purposes. Elk are also raised for venison, their meat. All of these markets are rising in popularity thus causing an increase in the breeding industry. Other species of similar type are farmed in the same way such as deer, moose, and red stag.