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H5N1 was detected in two connected dairy herds in Newton County, Indiana, in late October, found through routine milk surveillance and confirmed by USDA. The state has quarantined lactating cows at the sites and will test them weekly.
Dairy herd infections reduce milk output and add to quarantine-driven supply losses, a small bearish factor for milk and a modest signal for feed demand from dairies.
After 10 past bearish disease events, Milk (Class III) moved a median +0.1% over 5 sessions (60% higher; middle half -0.5% to +0.7%), and +2.2% 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.