Inghams Shares Tumble as Farms Locked Down in Fight Against H5N1

Inghams Group Ltd. shares fell by up to 14% on Monday, March 18, 2024, after the company implemented a lockdown of its Western Australia farms due to the detection of the H5N1 avian influenza virus. The company stated that all farms in the affected region are now under strict biosecurity protocols. Inghams confirmed that the H5N1 strain was identified in wild birds in Western Australia, prompting the precautionary measures. The company is working closely with the Department of Primary Industries and Regional Development in Western Australia to manage the situation and prevent further spread. Inghams has a significant presence in the Australian poultry market, and the lockdown is expected to impact its supply chain and operations in the region. The company has not yet provided an estimate for the duration of the lockdown or its potential financial impact. This incident highlights the ongoing threat of avian influenza to the poultry industry and food security.