Hogs prepare for the last price run into summer.

July lean hog futures ended the week with a loss, -0.97. December was down one tick for the week. This week's loosened lock-down restrictions for China's largest city, Shanghai, was a supportive factor. The US trade also notes we still have a last bit of seasonal strength based on both tight hog offerings and demand. This market is being held back a little as recent US hog supply, though yes entering the seasonal lows for summer, is a little larger than we expected to see at this time.

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