Incorrect, but a common misconception. The Amazon is destroyed to grow soya crops for 2-3 years. After the land has been depleted by soya growth, the farmers will put cattle on it for tax/legal reasons and because they can get a bit more money out of it. The vast majority of the economy impetus for rainforest destruction is due to demand for soy.

Vegetable activists often attempt to divert blame to meat production by saying things like "70% of the amazon soy is used to feed cattle", which is true, but only by mass. Cattle are fed the byproducts of soy production like soy meal that humans refuse to eat. By dollar value, almost all of the soy produced goes to human consumption.