
The current HPAI (H5N1) outbreak began in early 2022 and has killed over 58 million chickens and turkeys globally. The outbreak has strained egg supplies and caused skyrocketing prices and record producer profits in the US.
Tens of millions of birds lost have tightened layer numbers and feed demand, a structural factor that has supported egg prices and could reverse as flocks rebuild.
Not enough comparable past events yet for a historical read.
After 145 past neutral disease events, Corn moved a median +0.4% over 5 sessions (58% higher; middle half -1.2% to +1.7%), and +0.0% 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.