红枣市场周报-20251024

Report Industry Investment Rating - Not provided in the content Core Viewpoints of the Report - This week, the price of the main contract of Zhengzhou jujube futures declined, with a weekly decline of approximately 5.87%. The supply - side pressure will gradually emerge in the future, and the probability of jujube price continuing to decline increases. It is recommended to adopt a short - selling strategy at high levels for the Zhengzhou jujube 2601 contract in the short term [10][14] - Affected by the solar terms, the picking time of grey jujubes is earlier than last year. The market focus is on the supply of goods available for making warehouse receipts. New - season jujubes have not been picked on a large scale, but inland jujube merchants have gone to the production areas to purchase goods. The acceptance of new goods in the market deserves attention [10] Summary According to the Directory 1. Weekly Key Points Summary - Future Trading Tips: Pay attention to the spot price and the consumer side [10] - Market Review: The price of the main contract of Zhengzhou jujube futures declined this week, with a weekly decline of about 5.87% [10] - Market Outlook: The picking time of grey jujubes is earlier. As of October 23, 2025, the physical inventory of 36 sample points was 9103 tons, an increase of 94 tons from last week, a month - on - month decrease of 1.04%, and a year - on - year increase of 109.22%. The supply - side pressure will gradually emerge, and the jujube price is likely to continue to fall. Focus on the mainstream purchase price and quality of new jujubes [10] - Strategy Suggestion: Adopt a short - selling strategy at high levels for the Zhengzhou jujube 2601 contract in the short term [10] 2. Futures and Spot Market - Futures Price: The price of the Zhengzhou jujube 2601 contract declined this week, with a weekly decline of about 5.87% [14] - Top 20 Positions: As of this week, the net position of the top 20 in jujube futures was - 10441 lots [15] - Warehouse Receipts: As of this week, the number of Zhengzhou jujube warehouse receipts was 0 [18] - Futures Spread: As of this week, the spread between the Zhengzhou Commodity Exchange jujube futures 2601 contract and the 2605 contract was 95 yuan/ton [22] - Basis: As of this week, the basis between the spot price of Hebei grey jujubes and the main contract of jujube futures was - 100 yuan/ton [25] - Purchase Price in Main Production Areas: As of October 24, 2025, the purchase price of general jujubes in Aksu was 4.80 yuan/kg, in Alar was 5.2 yuan/kg, and in Kashgar was 6.0 yuan/kg [28] - First - Class Jujube Spot Price: As of October 24, 2025, the wholesale price of first - class grey jujubes in Cangzhou, Hebei, and Henan was 4.75 yuan/jin [32] - Special - Grade Jujube Spot Price: As of October 24, 2025, the spot price of special - grade grey jujubes in Cangzhou, Hebei, was 10.65 yuan/kg, and the wholesale price in Henan was 10.5 yuan/kg [36] 3. Industry Situation - Supply Side - Inventory: As of October 23, 2025, the physical inventory of 36 sample points was 9103 tons, an increase of 94 tons from last week, a month - on - month decrease of 1.04%, and a year - on - year increase of 109.22% [40] - Supply Side - Yield: In the 2024/25 production season, the jujube yield increased to 606.9 million tons due to good crop growth [43] - Demand Side - Export Volume: In August 2025, China's jujube export volume was 2364893 kg, the export value was 39713257 yuan, the average export price was 16792.84 yuan/ton, with a month - on - month increase of 32.55% and a year - on - year decrease of 25.20%. From January to August 2025, the cumulative export volume was 21264731 kg, with a cumulative year - on - year increase of 7.76% [47] - Demand Side - BOCE Trading: This week, the order volume of BOCE Xinjiang Jujube Hao Brand had a small amount of transactions [52] 4. Options Market and Futures - Stock Correlation - Options Market: The implied volatility of at - the - money jujube options this week is mentioned, but no specific data is provided [53] - Stock Market -好想你: The price - earnings ratio of Hao Xiang Ni is presented in the form of a graph, but no specific data is provided [55]