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Nearly 6 million egg-laying hens were lost to bird flu in Iowa and Minnesota in recent weeks, including 1.3 million at a Meeker County operation. Post Holdings' Michael Foods said the losses equal about 14% of its egg supply.
Losing layer flocks cuts egg supply and the feed demand from those birds, which is a bearish factor for corn and soybean meal, while egg prices are likely to rise.
startribune.comBrooks JohnsonMay 30, 2024After 175 past bearish disease events, Corn moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.5%), and +0.6% over 20.
After 167 past bearish disease events, Soybean Meal moved a median -0.6% over 5 sessions (40% higher; middle half -1.8% to +1.4%), and -0.8% 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.
