Hormel's (HRL) F2Q earnings point to a troubled spring for the pork industry. Profits from processing pork were the only major blemish on HRL's report, part of a hard comedown this year for hog farmers and processors. Just months removed from last year's record-high prices, pork supplies have expanded sharply just as consumers are pushing back against price increases that date to 2011. "We certainly did not expect" negative 2Q pork operating margins, says CFO Jody Feragen during the conference call. (marshall.eckblad@dowjones.com)

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(END) Dow Jones Newswires

May 23, 2012 10:45 ET (14:45 GMT)