The report discusses the most critical challenges and opportunities facing the sector. It highlights systemic risks and failures resulting from a process of growth and transformation that has outpaced the capacity and willingness of governments and societies to control and regulate. It tries to identify issues that require solutions at various levels to allow the livestock sector to meet society’s expectations in the future in terms of provision of both private and public goods. The issue of governance is central. Identifying and defining the appropriate role of government, in its broadest sense, is the cornerstone on which future development of the livestock sector must build.