苹果市场周报-20250905

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints - This week, the price of the Apple Futures 2510 contract declined slightly, with a weekly decrease of 0.08%. New - season early - maturing Fuji apples are gradually entering the market, with prices and quality higher than expected. In the old - crop market, the inventory in cold storage has decreased, and the shipping has accelerated slightly compared to last week. The consumption of inventory apples in the sales area is generally slow, and the market prefers high - quality goods. It is recommended to take a short - term long - position approach for the Apple 2510 contract, and attention should be paid to the pre - holiday stocking for the Double Festival [6]. 3. Summary by Directory 3.1 Weekly Highlights - Market Review: The price of the Apple Futures 2510 contract declined slightly this week, with a weekly decrease of 0.08% [6][10]. - Market Outlook: New - season early - maturing Fuji apples are gradually entering the market, with prices and quality higher than expected. As of September 3, 2025, the cold - storage inventory of apples in the main producing areas was 273,500 tons, a decrease of 66,200 tons from last week. The shipping has accelerated slightly. In the Shandong production area, some merchants are choosing to adjust inventory Fuji, and the holders are firm in their asking prices. In the Shaanxi production area, the market is in the final stage, and merchants mainly pick up their own inventory. The consumption of inventory apples in the sales area is generally slow, and the market prefers high - quality goods. Attention should be paid to the pre - holiday stocking for the Double Festival [6]. - Strategy Suggestion: It is recommended to take a short - term long - position approach for the Apple 2510 contract [6]. - Future Trading Tips: Monitor the listing volume of early - maturing Fuji apples and consumption [6]. 3.2 Futures and Spot Markets - Futures Market: The price of the Apple Futures 2510 contract declined slightly this week, with a weekly decrease of 0.08%. As of this week, the net position of the top 20 in apple futures was 4,290 lots, and the number of apple futures warehouse receipts was 0 [10][16]. - Spot Market: As of September 5, 2025, the mainstream price of 80 and above first - and second - grade farmer - supplied bagged red Fuji in Qixia, Yantai, Shandong was 3.7 yuan per catty; the price of bagged 75 and above Fuji apples in Yiyuan, Shandong was 2.3 yuan per catty [19]. 3.3 Industry Situation and Options - Supply Side: As of September 3, 2025, the cold - storage inventory of apples in the main producing areas was 273,500 tons, a decrease of 66,200 tons from last week. The shipping has accelerated slightly. The storage capacity ratio in the Shandong production area was 5.46%, a decrease of 0.92% from last week; the storage capacity ratio in the Shaanxi production area was 0.53%, a decrease of 0.48% from last week [27]. - Demand Side: - As of September 4, the average daily number of early - morning arrivals at major apple wholesale markets in Guangdong decreased. The profit of 80 first - and second - grade apple storage merchants was 0.30 yuan per catty [31]. - As of August 29, 2025, the wholesale price of all apple varieties was 9.75 yuan per kilogram, a week - on - week increase of 0.01 yuan per kilogram; the wholesale price of Fuji apples was 8.54 yuan per kilogram, a week - on - week increase of 0.04 yuan per kilogram [36]. - As of August 29, 2025, the weekly average wholesale price of 5 types of fruits (including Fuji apples, bananas, grapes, pears, and watermelons) was 6.85 yuan per kilogram, a week - on - week decrease of 0.02 yuan per kilogram [40]. - As of July 31, 2025, the monthly export volume of apples was 50,000 tons; the monthly export value was 632.84 million US dollars, a month - on - month increase of 46.13%; the cumulative export value was 4,882.89 million US dollars, a month - on - month increase of 14.89% [44]. - Options Market: Information about the implied volatility of at - the - money options for apples this week is presented in the form of a graph, but specific data is not mentioned [45]. 3.4 Futures - Stock Correlation - The report shows a graph of the price - to - earnings ratio of Honghui Fruit & Vegetable Co., Ltd., but no specific analysis is provided [47].