Looking at the Google map & satellite, there's a good-sized shipper just east of the trestle in Sherwood, and apparently still quite a bit of traffic in Newberg, but nothing in between. With another way into Newberg, as noted above, loss of the trestle doesn't affect anything.

Dating myself ... last time I was around there (visiting relatives in Newberg, many years ago) the big mill on the south side of town (rail-served with street running) was, iirc, Smurfit? Not any more, apparently, though it looks like the street trackage is still there.