Upper Iowa Beef has announced that it has halted production and reduced staff in its Lime Springs facility. The plant closed two weeks ago due to a “financial model that wasn’t producing results,” reports Cedar Valley Business Monthly. The company’s board met last week to discuss its future. Stephen Eastman, chairman of the board and co-owner of S&D Farms cattle farm, issued a statement saying the company “does not have any interest in (publicity) about the project.”
“Inventory was going up and sales were not adequate, as far as I understand it,” said Jesse Stevens, the company’s founder and president who no longer serves on the board.