All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad is His slave and Messenger.
Allaah, The Most-High, Says (what means) {…Who created for you all that is on earth….} [Quran 2:29] Allaah also Says (what means): {And the cattle, He has created them for you; in them there is warmth (warm clothing), and numerous benefits, and of them you eat.} [Quran 16:5]
This is a permission from Allaah for human beings to benefit from whatever is permitted that exists on this earth.
We (human beings) are responsible for that, we have to do our best not to let anything be wasted, missed or lost. If we give up eating the meat of animals that we are allowed to eat, despite our need for it, then we would contribute to the loss of a real fortune. If an animal that we are allowed to eat is left until it dies without benefiting from it, this is a great loss, as this is also considered leaving our need for food and drink unfulfilled.
So killing animals for this purpose by hunting them or slaughtering them according to Islamic rites is allowed.
Allaah has permitted it and human beings are in need for them.
However killing animals just for the sake of killing, like in fighting bulls, etc…, then this is not allowed in Islam. The animal suffers from this and it is simply a waste of its benefits.
Allaah knows best.