
A National Association of State Departments of Agriculture panel discussed recent H5 influenza outbreaks in poultry and dairy and the biosecurity plans needed for livestock. Panelists said the virus is now endemic in US wild birds, so annual incursions into domestic animals are likely to continue.
Expectations of recurring poultry and dairy outbreaks sustain a background risk to bird and milk supplies. That risk is persistent but does not signal an immediate change in feed demand.
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.