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South Korea confirmed H5N9 highly pathogenic avian influenza at a layer farm with 48,000 hens in Ganghwa, Incheon. It is the fourth such case this winter season and has triggered a 24-hour standstill for layer operations across Seoul, Incheon and Gyeonggi.
Losses at layer farms and movement standstills tighten domestic egg supply in a major import market, supporting egg prices and possibly raising demand for imported feed ingredients. The effect on global feed prices is small at this scale.
Not enough comparable past events yet for a historical read.
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.