Wisconsin confirmed highly pathogenic avian influenza in a backyard flock in Rusk County, and the birds were depopulated. Oregon became the 22nd U.S. state to detect bird flu in dairy cattle, marking its first detection in Oregon dairy herds.
Backyard flock detections are small in volume, but new dairy cattle detections raise concern about milk supply and herd movement restrictions. Limited scale means the price impact is modest for now.
After 22 past neutral disease events, Milk (Class III) moved a median -0.1% over 5 sessions (41% higher; middle half -1.4% to +0.5%), and +0.2% over 20.
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.