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UC Davis economists report California egg production in December 2024 was 30% below January 2022 levels, with more than 60 million US laying hens lost from 2022 through 2024. H5N1 has also spread through California dairies, reducing milk output without a notable consumer price increase.
Layer and dairy losses from H5N1 tighten those protein supplies, but the limited spillover to milk and retail prices means only modest impact on feed demand from dairy and poultry sectors.
caes.ucdavis.eduStephanie PerlaApr 1, 2025After 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.
Not enough comparable past events yet for a historical read.
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.
