What do you think will happen to animals if we stopped eating them or wearing their fur?

I have a relative that keeps sending me stuff about animal cruelty from Peta. First few, I was disgusted. But now all the things are starting to be a bit much. I like meat. I don’t think we need to wear every animal fur, but I wonder, what does peta think will happen to these animals if they stopped being farmed for food or clothing?
I figured if everyone stopped hunting or farming, the animals will either over populate and die, be hunted by other animals and die, or starve because they are use to being cared for, or the farmers will just kill them all.
So what do you think would happen?