Iowa Premium Pork Company officials report that 115 independent Iowa pork producers have invested more than $2.3 million in IPPC’s LeMars, Iowa project. IPPC will invest this money in its subsidiary, Majestic Food Group, LC.
Majestic will equip a closed beef processing plant in LeMars this summer, and start pork processing in October. Majestic will initially employ about 56 workers, most of whom will work at the LeMars processing plant.
Iowa pork producers will continue to have the opportunity to invest in this project until Sept. 30, sau company officials. Details about investment opportunities are available at www.majesticfoodgroup.com.
By year's end, the Majestic plant should be processing meat from 1,100 hogs a day at its LeMars plant. Project investors will supply most of the hogs. Investors will receive a base price equal to 89 percentof the wholesale cutout value of the meat, as determined by USDA price reporting. Investors will also receive lean premiums for lean hogs.
Initial processing will be performed through a contract with SiouxPreme Pork Products in its Sioux Center plant. Under Majestic's plan, the sales staff will start by selling fresh pork products, an then expand into smoked and cooked meat products.
For further information, contact Marston McGwin, Majestic’s chief executive officer, at (877) 572-7675.
Iowa Premium Pork Company