
The USDA confirmed a new H5N1 highly pathogenic avian influenza case in a commercial dairy herd in Indiana on November 2, adding another state to the dairy outbreak. APHIS is working with Indiana veterinary authorities to contain it while also managing a New World Screwworm emergency.
Each new state detection adds to pressure on dairy output and feeds concern over milk-supply safety, which can weigh on dairy-linked feed demand. A single herd confirmation is unlikely to move feed prices on its own.
After 10 past bearish disease events, MILK 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.