There are a few types of lime that you can buy. What ddawn referred to is ag lime or barn lime. It is nothing more than powdered limestone and is tan to gray in color. It can help to dry up areas, create a non-skid surface, and raises the pH a little, but won't do much for pests. It's basically the fine powder that you'd find on a gravel driveway.
The other type commonly sold at the ag supply is hydrated lime. This is a bright white powder that is mildly caustic. This is commonly used as a sanitizer in barns, it is spread as a sanitizer for floors and can be mixed as whitewash to sanitize walls and wood surfaces. It is caustic enough to actually disinfect areas or heat and dry areas of wet litter. We use it between flocks to sanitize the floor and wooden structures in our hen house. We spread it liberally on the floor and on wooden surfaces in the barn. We broom it in and then cover it with hay before the birds are placed.