Iowa Premium Beef is nearly ready to process its first group of black Angus cattle at its plant in Tama.

The plant is slated to start procuring and processing black Angus cattle by the end of October, Jeffrey Johnson, the company’s CEO, told members of the media during a tour last week.

The 200,000-square-foot processing facility will start processing approximately 1,100 head of cattle per day in the first phase of its business, Johnson said. The company will buy $650 million worth of cattle from feeders during the first phase.

As the plant reaches peak production, it plans to process more than 2,000 head of cattle per day, buying about $1 billion in cattle annually.

Iowa Premium Beef plans to purchase the...