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Michael Foods, a Post Holdings subsidiary, confirmed HPAI outbreaks at two contracted egg-laying facilities in Minnesota and Iowa. Together they affected about 5.7 million layers, roughly 14% of the company's controlled supply.
Post kept its fiscal 2024 EBITDA guidance unchanged.
Losing about 14% of a major producer's layers removes meaningful egg supply and adds to the tightening that is lifting egg prices. Lower layer numbers also reduce demand for layer feed.
meatpoultry.comRachael OatmanJun 3, 2024Not 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.
