
H5N1 was reported at a commercial turkey farm in Minnesota with 34,400 birds and a duck facility in Indiana with 24,300 birds. Another infected dairy herd was also reported in Texas.
The poultry losses are modest and the dairy detection has no clear effect on milk supply, so the price implication is small.
After 645 past disease events, Lean Hogs moved a median -0.1% over 5 sessions (48% higher; middle half -1.8% to +2.1%), and +0.9% over 20.
Not enough comparable past events yet for a historical read.
After 615 past disease events, Soybean Meal moved a median -0.2% over 5 sessions (46% higher; middle half -1.8% to +1.8%), 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.