Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-07-11 09:26Report Information - Report Title: Apple Market Weekly Report - Low Inventory Provides Support, Prices Continue to Fluctuate Slightly Stronger [2] - Report Date: July 11, 2025 [2] - Researcher: Zhang Xin [3] 1. Report Industry Investment Rating - Not provided in the content 2. Core View of the Report - This week, the price of Apple Futures 2510 rose by 0.97%. New - season apples are expected to have a national output of 3736.64 million tons, a 2.35% increase from the 2024 - 2025 production season. As of July 9, 2025, the cold - storage inventory of apples in the main producing areas was 914900 tons, with a slower year - on - year shipment speed. Although summer fruits impact apple demand, the current low inventory strongly supports prices, and the market is expected to fluctuate slightly weaker. It is recommended to go long on the Apple 2510 contract at low prices [6][11]. 3. Summary According to the Directory 3.1 Weekly Highlights Summary - Market Review: The price of Apple Futures 2510 rose by 0.97% this week [6][11]. - Market Outlook: The expected national apple output is 3736.64 million tons, a 2.35% increase. As of July 9, the inventory was 914900 tons, with a slower year - on - year shipment speed. Summer fruits impact apple demand, but low inventory supports prices, and the market is expected to fluctuate slightly weaker. Follow - up attention should be paid to production [6]. - Strategy Recommendation: Go long on the Apple 2510 contract at low prices [7]. - Future Trading Tips: Monitor the de - stocking rate, consumption, and new - crop production [8]. 3.2 Futures Market - Price Movement: The price of Apple Futures 2510 rose by 0.97% this week [6][11]. - Position and Warehouse Receipts: As of this week, the net long position of the top 20 in apple futures was 8549 lots, and the number of warehouse receipts was 0 [17]. 3.3 Spot Market - As of July 10, 2025, the mainstream price of Shandong Yantai Qixia paper - bagged Red Fuji 80 and above first - and second - grade farmer - produced fruits was 4 yuan per catty, and the price of Shandong Yiyuan paper - bagged 75 and above Fuji apples was 2.4 yuan per catty [20]. 3.4 Industrial Chain - Supply Side: As of July 9, 2025, the cold - storage inventory of apples in the main producing areas was 914900 tons, a decrease of 78100 tons from last week. The de - stocking speed in Shandong was slower year - on - year, while that in Shaanxi was slightly faster than last week [28]. - Demand Side: - As of July 10, the average daily early - morning arrival of vehicles at major apple wholesale markets in Guangdong decreased, and the profit of 80 first - and second - grade apple storage merchants was 0.9 yuan per catty [32]. - As of July 4, 2025, the average wholesale price of Fuji apples was 9.54 yuan per kilogram, a 0.32% increase, and the wholesale price of apples was 9.76 yuan per kilogram, a 0.31% increase [35]. - As of July 4, 2025, the weekly average wholesale price of 5 types of fruits was 7.35 yuan per kilogram, a 1.47% decrease [39]. - In May 2023, China's fresh apple exports were 39400 tons, a 26.36% month - on - month decrease and a 9.22% year - on - year decrease [43]. 3.5 Option Market - The implied volatility of at - the - money options for apples this week is presented in the relevant chart, but no specific data is given [44]. 3.6 Futures - Stock Correlation - The price - earnings ratio chart of Honghui Fruit is presented, but no specific analysis is provided [46].