Beef Co-Op Equity
Meetings Complete

HURON, S.D. —(AP)— More than 1000 ranchers in four states attended 15 meetings conducted to drum up investment interest in a beef processing plant.

Northern Plans Premium Beef wants to build a plant in Belle Fourche that would process between 100,000 and 130,000 head of fed cattle per year.

If its investment goals are met, the cooperative hopes to open the plant by October 1999.

"I think the investment interest is pretty sincere on the part of those who came to those meetings," said Ryan Taylor, communications director for the cooperative.

"Now it is coming down to decision time for them. We know it is not an easy decision, but hopefully we will all make the right one and get this thing off the ground," he said.

Taylor said the cooperative needs between $10 million and $13 million in producer equity to launch the plant.

Shares cost $100 each and ranchers are required to deliver one fed steer or heifer per share each year to the Belle Fourche plant.

An announcement on the success of the equity drive is expected later this month.

The equity meetings were held in South Dakota, North Dakota, Wyoming and Montana.