农产品日报：苹果终端消费不足，红枣供应整体宽松-20251218

Group 1: Report Industry Investment Rating - The investment rating for both the apple and红枣 industries is neutral [4][8] Group 2: Report's Core Viewpoints - For the apple industry, the current入库量 and入库结构 expectations are reflected in the price. Low - priced citrus impacts apple sales. The market is in a off - season with stable prices, and attention should be paid to terminal consumption recovery,入库结构 differentiation, and pre - holiday trading atmosphere [4] - For the红枣 industry, the supply is abundant due to the superposition of old and new inventories. Although the traditional peak season arrives, downstream merchants purchase as needed, resulting in mediocre sales. High inventory and weak demand may continue to put pressure on prices, and the upward rebound space is limited even if consumption data improves [8] Group 3: Market News and Important Data Apple - Futures: The closing price of the apple 2605 contract was 9122 yuan/ton yesterday, a change of - 7 yuan/ton (- 0.08%) from the previous day [1] - Spot: The price of Shandong Qixia 80 first - and second - grade late Fuji was 4.10 yuan/jin, unchanged from the previous day; the price of Shaanxi Luochuan 70 and above semi - commercial late Fuji was 4.20 yuan/jin, unchanged from the previous day. The spot basis AP05 - 922 and AP05 - 722 changed + 7 from the previous day [1] Red Dates - Futures: The closing price of the red dates 2605 contract was 8915 yuan/ton yesterday, a change of - 50 yuan/ton (- 0.56%) from the previous day [5] - Spot: The spot price of first - grade gray jujubes in Hebei was 8.60 yuan/kg, unchanged from the previous day. The spot basis CJ05 - 315 changed + 50 from the previous day [5] Group 4: Recent Market News Apple - The inventory of late Fuji apples is generally stable but weak. The delivery progress in the producing areas is slow, and the enthusiasm of merchants to seek fruit from farmers is average. The terminal consumption is sluggish, and the double - holiday stocking has no obvious atmosphere. It is expected that today's transactions will remain dull and the mainstream prices will be stable [2] Red Dates - The acquisition of gray jujubes in Xinjiang is coming to an end, with little remaining supply. The prices in different regions vary according to quality. In the sales areas, the prices are stable, and downstream merchants purchase as needed [6] Group 5: Market Analysis Apple - The apple futures price fluctuated narrowly yesterday. The overall transaction in the producing areas was light, and the double - holiday stocking was less than expected. Low - priced citrus squeezed the sales of medium - and low - grade apples. The入库 of new fruits was low, while farmers were eager to sell. The downstream market sales were slow, and the sentiment of some merchants changed from optimistic to cautiously optimistic or slightly pessimistic [3] Red Dates - The red dates futures price declined slightly yesterday. The market supply is abundant due to the superposition of new and old inventories, while the downstream consumption is weak. The acquisition in Xinjiang is almost over, and some sellers in the producing areas are reluctant to lower prices. In the sales areas, the prices are stable, and some holders sell at a discount to avoid storage costs. The inventory of 36 sample points is increasing, and the price is under pressure [7] Group 6: Strategy Apple - Maintain a neutral strategy. Focus on the terminal market consumption recovery,入库 structure differentiation, and pre - holiday trading atmosphere. It is expected that the double - holiday stocking may start slightly this week, and the market will remain in an off - season with stable prices [4] Red Dates - Adopt a neutral strategy. With sufficient supply and weak demand, the price may continue to be under pressure. Even if consumption improves, the upward rebound space is limited. Pay attention to the peak - season consumption performance [8]