In Mongolia, the yak has a great value for nomadic breeders. It has many uses and is necessary for the good development of a farm. The yak can carry equipment on its back or tract a cart. Its wood is used for doing clothes, and, as any animal, its meat and milk are eaten.
In the northern Khangai Mountains of Mongolia, the traditional Yak Festival is held near the lake Terkhiin Tsagaan Nuur every year, on the first and second days of August. Nomadic culture in the Khangai Mountains is very strong, and the area has one of the highest concentrations of yaks in the world. During the festival, several contests are organized including yak parade, yak lassoing competition, the best-decorated yak, best yak bull, yak milking contest, yak wool clothing fashion show, yak race, and also an exhibition of hand-made yak productions.