Three things will work against you.  1) The price in states with legal production is already steeply lower due to the increased supply.  2) Most legal producers are struggling to deal with the regulation and bureaucracy involved.  Hawaii allowed producers to plant, and a full year later had not allowed any product to be sold.  The delay was entirely due to the state not putting the lab in place to meet the testing requirements the state had established.  They would not allow any outside lab to do the testing.  3) Many banks will not do business with producers, and those that will often impose unrealistic documentation requirements.

To your second question; the hemp plant is not much but fiber held together with a little green stuff.  It has almost no value as feed.