Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - This week, the price of the Apple Futures 2601 contract rose with a weekly increase of 1.55%. The operation of the Apple 2601 contract is recommended to be mainly based on a short - term long - thinking strategy [4][9]. - For new - season apples, western late - maturing Fuji apples are gradually entering the large - scale bag - removing stage, and the quality of the picked green Fuji is generally good, but the fruit sizes are slightly uneven. For inventory apples, as of September 24, 2025, the cold - storage inventory of apples in the main producing areas across the country was 121,800 tons, a decrease of 41,400 tons from last week. The storage capacity ratio in Shandong was 2.62%, a decrease of 0.89% from last week. The inventory removal speed in Shandong was slightly faster, and the remaining inventory was mostly concentrated in towns such as Qixia. The overall sales volume during the week was average. The mid - maturing apples such as Anglin and Yanfu were actively traded, but the sales of inventory apples were still average. As the Red General apples are gradually entering the later stage, the number of merchants inspecting the in - storage goods has slightly increased. The price of high - quality goods is relatively stable, while the price of farmers' general goods is weak. The driving effect of the Double Festivals is average, and attention should be paid to the bag - removing progress of late Fuji next week [4]. 3. Summary by Related Catalogs 3.1 Week - to - Week Summary - Futures: The price of the Apple Futures 2601 contract rose this week, with a weekly increase of 1.55%. As of this week, the net position of the top 20 in Apple Futures was 6,018 lots, and the number of Apple Futures warehouse receipts was 0 [4][9][15]. - Spot: As of September 26, 2025, the mainstream price of farmers' goods of paper - bagged Red Fuji apples above 80 in Qixia, Yantai, Shandong was 3.7 yuan per catty; the price of paper - bagged Fuji apples above 75 in Yiyuan, Shandong was 2.3 yuan per catty [19]. - Strategy: It is recommended to mainly adopt a short - term long - thinking strategy for the Apple 2601 contract [4]. - Future trading tips: Pay attention to the listing volume of mid - maturing Fuji and consumption [4]. 3.2 Futures and Spot Markets - Futures market: The price of the Apple Futures 2601 contract rose this week, with a weekly increase of 1.55%. As of this week, the net position of the top 20 in Apple Futures was 6,018 lots, and the number of Apple Futures warehouse receipts was 0 [9][15]. - Spot market: As of September 26, 2025, the mainstream price of farmers' goods of paper - bagged Red Fuji apples above 80 in Qixia, Yantai, Shandong was 3.7 yuan per catty; the price of paper - bagged Fuji apples above 75 in Yiyuan, Shandong was 2.3 yuan per catty [19]. 3.3 Industry Situation and Options - Supply: As of September 24, 2025, the cold - storage inventory of apples in the main producing areas across the country was 121,800 tons, a decrease of 41,400 tons from last week. The storage capacity ratio in Shandong was 2.62%, a decrease of 0.89% from last week [26]. - Demand: - As of September 25, the average daily number of early - morning arriving vehicles at major apple wholesale markets in Guangdong increased. The profit of 80 first - and second - grade apple storage merchants was 0.30 yuan per catty [30]. - As of September 19, 2025, the wholesale price of all apple varieties was 9.78 yuan per kilogram, a week - on - week increase of 0.08 yuan per kilogram; the wholesale price of Fuji apples was 9.35 yuan per kilogram, a week - on - week decrease of 0.05 yuan per kilogram [35]. - As of September 19, 2025, the weekly average wholesale price of 5 types of fruits (including Fuji apples, bananas, grapes, pears, and watermelons) was 6.82 yuan per kilogram, a week - on - week decrease of 0.08 yuan per kilogram [39]. - In August 2025, China's fresh apple exports totaled approximately 68,400 tons, with an export value of 69,739,352 US dollars and an average export price of 1,019 US dollars per ton. The export volume increased by 27.61% month - on - month compared to July and decreased by 17.61% year - on - year compared to August 2024. From January to August 2025, China's total fresh apple exports were 530,000 tons, a cumulative year - on - year decrease of 7.60% [42]. - Options: Information about the implied volatility of Apple at - the - money options this week is presented, but no specific data is given [43]. 3.4 Futures - Stock Correlation - Information about the price - earnings ratio of Honghui Fruit and Vegetable is presented, but no specific data is given [46].
苹果市场周报-20250926
Rui Da Qi Huo·2025-09-26 09:57