The Great Lakes Pork Cooperative (GLPC) is considering purchase of a South Bend, IN, pork processing facility to serve members in Indiana, Michigan and Ohio.
The initiative includes state officials from land grant institutions, Farm Bureau, departments of agriculture and pork producers.
Following a three-year study of options, GLPC began to pursue the vision of: "Creating a cooperative business alternative to ensure the viability of pork production and producers in the Eastern Corn Belt," observes GLPC board member and pork producer Mike Lemmon, DVM, Albion, IN.
GLPC’s business plan is based on a marketing study and economic analysis completed by the Sparks Companies, a well-known agribusiness consulting firm from Memphis, TN.
The study is based on harvesting 2,400 hogs/day, 600,000 hogs/year. The study estimates the cost for purchase, renovation and working capital for the pork processing facility at around $14 million.
The money would be raised through a stock offering. Producers who are not GLPC members will have the right to join after current members exercise their right to participate in any proposed offering, says Lemmon.
Interested producers are encouraged to attend one of two informational meetings Jan. 15 at the Indiana Farm Bureau office, 225 S. East St., Indianapolis, IN.
For more details, contact the temporary GLPC office at (989) 658-8909 or Lemmon at (260) 636-7304.