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Hog futures have not delivered the typical summer rally despite strong export demand, lower hog weights and expectations for tighter supplies later in the year. Ever.Ag's Lee Schulz attributes the delay to patience and says the main drag is consumer demand.
Softer consumer demand offsets supply tightening, which caps hog futures upside into the second half of the year and keeps feed buyers facing flat-to-weak hog pricing.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.