For the rest, if we aren't eating them, something else is going to eat them. It's not a question of "taking an animal life"—the animal's life is going to get taken, in a messy, bloody, terrifying way.
It is considered by some to be an increase in marginal global utility, when a human eats an animal that would otherwise have been eaten by something else. Because we cause less suffering in the process of (killing and) eating the animal, than anything else would have.
(I don't personally know how I feel about this argument, but I feel like I should put it out here, because it's not very well-known and usually causes more interesting discussion than the usual responses.)
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Also, as a bonus argument: if you're a positive utilitarian, then we increase global utility by a lot simply by raising livestock to eat them that would otherwise have never existed at all. (If you're a negative utilitarian, then all the good humanity has ever done is probably wiped out by the suffering of the great number of chickens we keep.)
Either way, though, it's indisputable that the life of e.g. a sheep kept by a shepherd, has higher total QALY than the life of a wild sheep. For some species, we're giving them a virtual garden-of-Eden to live in until they just, one day, die at our hands.
There's actually a part of the Effective Altruism movement that wants to reduce wild animal suffering—i.e. interject ourselves into nature in order to make more animal lives like that of the tended sheep (with or without the eventual culling.) I think they hope to use synthetic meat to solve the "how do you keep both the fox and the hen happy" problem.