"China warns of sustained virus impact on poultry, eggs supply"

Well that can mean only one thing to long-term readers, time for a visit to Dalian's Commodity Exchange for a look at the egg futures. More after the jump, first though, from Reuters, February 18:

* Supply chains disrupted, poultry markets closed
* One company reports loss of around $14 million (Adds details, comments)

China’s supply of poultry and egg products is likely to be hit in the second and third quarters as the coronavirus outbreak has had a severe impact on the industry, agriculture ministry official Yang Zhenhai told a State Council briefing on Tuesday,

The world’s second-largest poultry producer, China had been ramping up output to fill a meat shortage after the African swine fever epidemic, which began in 2018, decimated its pig herd.

Poultry prices have plunged this year and restrictions on moving livestock and extended holidays in many areas have paralysed the supply chain. Farmers have been left with large inventories of birds and eggs even as demand plunged as restaurants and canteens stay shut....MORE

From the DCE:

After hitting a three year high in late October the bottom pretty much fell out of the market but it now seems to be pricing in some demand.

Previous adventures in  ovoids:
The Timeless Allure of Egg Futures: "Former teenage soldier hatches millions from Chinese egg futures"
Allure may not be the right word....
The Chinese Egg Derivatives Roll Out
Commodities: "Egg, garlic prices surge in China"
What came first Egg or Chicken? Solution Through Granger Causality

 I've got a feeling we're going to be talking Granger Causality Tests in the very near future so I might as well start laying (sorry) the groundwork.
Clive Granger was awarded an economics Nobel for his correlation/causation work. Rather a big deal in my world.
(prediction and stuff)