
Afghanistan, Iraq and Israel reported highly pathogenic avian flu outbreaks in poultry or wild birds, with an H5 outbreak killing 4,450 of 54,000 birds at a commercial farm in Herat. The UK and Ireland also reported further avian flu detections in wild birds.
Scattered outbreaks in the Middle East and Europe remove some poultry supply but are too small to materially shift feed demand or prices.
After 645 past disease events, Lean Hogs moved a median -0.1% over 5 sessions (48% higher; middle half -1.8% to +2.1%), and +0.9% over 20.
Not enough comparable past events yet for a historical read.
After 615 past disease events, Soybean Meal moved a median -0.2% over 5 sessions (46% higher; middle half -1.8% to +1.8%), and -0.2% 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.