Silver Fern Farms expects its full-year financial result to be "materially'' below last year's performance.
In a recent update to shareholders, chairman Rob Hewett and chief executive Dean Hamilton said that was "clearly disappointing''.
The impact of lower market prices and unpredictable livestock patterns had overshadowed a lot of positive initiatives.
Last year, the company posted reported profit for the year ended September of $24.9million, up from $500,000 in 2014.
An update would be provided to shareholders after the June quarter was completed.