
Chinese chicken farmers, including former pig farmers who switched after African swine fever wiped out herds, are suffering losses as poultry supply rises. Retail chicken prices are up 24% over six months, but prices farmers receive for birds have fallen sharply.
Substitution from pork to chicken is lifting poultry demand at retail, but surging farm-gate supply is pressuring live bird prices, a bearish signal for chicken feed demand near term despite strong consumer prices.
Not enough comparable past events yet for a historical read.
After 177 past bullish disease events, Lean Hogs moved a median +0.2% over 5 sessions (52% higher; middle half -1.8% to +2.7%), and +0.9% over 20.
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.