*Please note, The Jacobsen will not publish a bulletin on Tuesday in observance of the U.S. July 4 holiday.**

**Ryan Standard will be out of the office until July 10, 2023. Please contact Amanda Luhavalja at [email protected] in his absence.**

Trading was very quiet to start the week, with many market participants away from their desks due to the July 4th holiday on Tuesday. No activity, or price changes, were reported. It is reasonable to think that sellers will push for higher prices after the holiday based on the recent rally for palm and soybean oil products. On the CME, front-month August soybean oil futures ended at 63.67 cents per pound, up 197 basis points per pound, or 3.2 percent, on the session.

Hog slaughter finished last week at 2.332 million head, down 1.69 percent from the week prior but up 2.12 percent from the corresponding week last year. For the next six…