国信期货苹果周报：早熟苹果上市价格高开，或为盘面提供支撑-20250706

Report Industry Investment Rating - Not mentioned in the provided content Core View of the Report - The opening price of early-maturing apples is high, which may provide support for the market. In the short term, it is recommended to adopt a bullish and oscillatory trading strategy [34]. Summary by Directory 1. This Week's Market Review - This week, the main contract of apple futures, AP2510, showed a relatively strong performance [8]. 2. Supply-side Situation - As of July 3, 2025, the total remaining cold storage apple volume in the country was 909,200 tons, at the lowest level in the past five years. The remaining cold storage volume in Shandong was 554,500 tons, and in Shaanxi, it was 242,800 tons [13]. 3. Demand-side Situation - As of July 3, 2025, the national cold storage inventory ratio was about 6.88%, with a week-on-week decrease of 0.69 percentage points and a year-on-year decrease of 3.59 percentage points. The destocking rate was 89.18%. Apples are in the off-season for consumption, and the shipment speed in the producing areas is slow [18]. - In May 2025, the export volume of fresh apples was about 45,500 tons, a month-on-month decrease of 37.38% and a year-on-year decrease of 25.15%. It is expected that the export volume of fresh apples in the second quarter of 2025 may decline [20]. - As of July 4, the mainstream price of apples in Qixia, Yantai, Shandong was stable. The transaction volume increased slightly, and the mainstream price changed little [30]. 4. Market Outlook - The trading logic of the futures market will gradually shift from the sales situation of old-season apples to the production and purchase of new-season apples. The high opening price of early-maturing apples may provide support for the market [34].