Ovostar downgrades 2012 output guidance, confirms outlook for 2013

Egg producer Ovostar Union (OVO PW) revised its egg production outlook for the current year from 0.84 bln units to 0.72-0.73 bln (+16% to +17% yoy), the company revealed on Dec. 3 in an investor update. The company kept its production guidance for 2013 unchanged at 1.1 bln units (+1.5x yoy, +1.76x vs. 2011). The new 2012 targets are the result of the postponed launch of two laying hen houses, as well as the temporary idling of another five houses planned for upgrade.