ALF aren't chicken farmers. I guess if a bird flu epidemic breaks out in NZ then sales of bird seed will decline? I wasn't aware ALF sell bird seed though.

ALF are probably more exposed to the real estate bubble through the "First National" brand, and their finance company, which appears to be showing signs of cooling along with the general economy. There are more motivated vendor signs / mortgagee sales being marketed these days.

Back to Bird Flu, I can't see this having any material effect on the value of ALF, unless this virus morphs into a mad cow, sheep and bird flu so that ALF have to get out of selling livestock.