Obama would give them unemployment for 2 years
Can't be worse than battery farming.
The ones that we had used to feed upon would no longer be of any "use" and disappear from the world (except in India). No reason for them to exist. Pigs, chickens, etc all would be gone, novelty pets at best.
WHAT IF EVERY DOSE NOT BECOME VEGETARIAN AND STOP USING ANIMAL PRODUCTS! DON'T THINK TOO MANY PEOPLE WILL !!!
The whole world wouldn't become vegetarian overnight, so I suspect what would happen is that the current livestock would live out their lives exactly as they are now, but we'd simply stop breeding more of them. Gradually farms supporting livestock would either close or transition to straight agriculture.
The only way in which wild animals would be affected would presumably be in the drastic reduction in hunting. Otherwise it wouldn't be much different for them.
Animals would live among humans.
They would kiss you and would be wandering all over where you live.