Canada Packers lost $28.1 million in the third quarter since it was spun off from Maple Leaf Foods.
It made substantial profits in the first two quarters – eg. $25.6 million in the second quarter.
The results included a $47.6-million non-cash decrease in fair value of its hogs compared with $4.9-million in the same quarter last year.
On an adjusted basis, Canada Packers says it earned 23 cents per share in its latest quarter compared with an adjusted profit of $1.13 per share a year earlier.
Sales in the quarter totalled $420.7-million, down from $481.80-million a year ago, when they included operations not acquired in its spinoff from Maple Leaf Foods Inc.
