The opening of the Northern Beef Packers plant has been delayed indefinitely, though construction and hiring employees is progressing, says CEO David Palmer.
Unless Canada quickly signs a free trade deal with South Korea, industry officials fear that Canada could risk losing all of its $300 million in annual pork exports to the country.
The company posted a net loss of 67.5 million reais ($38.2 million) in the third quarter, compared to a profit of 143.4 million reais in the same period a year ago.
The USDA said that if Congress does not provide enough money for enforcing a new, sweeping antitrust rule for meat companies, it will abandon portions of the rule.