
USDA announced that dairy cattle in Nevada tested positive for the H5N1 D1.1 variant, the first detection of this variant in dairy cattle. The B3.13 variant has already affected nearly 1,000 herds across 16 states.
A second independent spillover into dairy herds could extend milk output losses, though current evidence points to a limited near-term effect on milk supply.
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.