
South Korea confirmed two more highly pathogenic avian influenza cases at layer farms in Seongju and Gimje, bringing the season total to 48. Authorities are culling birds, controlling farm access and imposing a 24-hour standstill order in nearby areas.
The cases are localized and add to the layer losses in Korea, but the scale is small relative to global feed demand. The price impact is minimal.
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.