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Most often used in the derogatory to describe people that elect the suburban middle class lifestyle because they are so inept the only possible way they can contribute anything to society is to produce offspring. Typical cycle goes as follows: schooling -> job -> marriage -> children -> death. Their children also tend to grow up to become breeders and the cycle continues. True "breeders" can be compared to animals such as rabbits or cattle that do nothing but multiply by breeding. The term probably got its start in the GLBT community but has since gained outside popularity.
After college, you'll get a job and marry some girl or boy. Then you two can get fat and raise children in your nice house with a white picket fence and all the other breeders.

The song Little Boxes by Malvina Reynolds describes breeders.
breeder by David213 October 13, 2006
n~ (offensive) A heterosexual person. One who breeds with members of the opposite sex.

see also: trailer trash, homophobe
Ugh! What's that smell? Is this a breeder bar? It reeks of CK one in here.
Breeder by Jeff Stryker April 1, 2003

Breeder's Cup 

The proverbial race among minority women, especially hispanic or black, to be the first among there own to have as many children as possible (by many different men)before reaching the age of 18, thus not having to finish high school or get a job ever, and be able to live on the government dole for as long as humanly possible.
Did you see that bitch? She ain't even popped out the one inside her yet, and she's already trying to get pregnant again. I guess she's competing in the Breeder's Cup.
Breeder's Cup by tmcc19 November 22, 2009

half-breeder 

Stop fucking that woman and start sucking my dick you half-breeder!
half-breeder by D-Phanto September 27, 2018

little breeder 

Another way of saying little fucker - because fuck is a colloquial term for sex and sex can result in breeding.
"Don't let that little breeder near me or I'll swipe him one!"
little breeder by karientoch March 15, 2019
Breeder by Sue March 31, 2005