农产品日报：苹果产区交易疲软，红枣库存累库明显-20251219

Group 1: Report Industry Investment Rating - The investment rating for both the apple and红枣 industries is neutral [4][8] Group 2: Report Core Views - The apple market is in a weak trading situation, with limited overall transactions of late Fuji apples in cold storage, slow downstream sales, and the market demand being suppressed by the concentrated listing of citrus and other seasonal fruits. The price is expected to remain stable in the short - term, and attention should be paid to terminal consumption recovery, inventory structure differentiation, and pre - holiday trading atmosphere [2][3][4] - The红枣 market has a relatively loose supply pattern due to the superposition of new - season and old - season stocks. Although the traditional peak season is approaching, downstream buyers purchase on demand, and the high inventory and weak demand may continue to put pressure on prices. The price rebound space is limited even if consumption data improves, and attention should be paid to the peak - season consumption performance [7][8] Group 3: Summary by Related Catalogs Apple Market News and Important Data - Futures: The closing price of the apple 2605 contract yesterday was 9068 yuan/ton, a change of - 54 yuan/ton from the previous day, with a decline of - 0.59% [1] - Spot: The price of 80 first - and second - grade late Fuji in Shandong Qixia was 4.10 yuan/jin, unchanged from the previous day; the price of more than 70 semi - commercial late Fuji in Shaanxi Luochuan was 4.20 yuan/jin, also unchanged from the previous day. The spot basis of AP05 was - 868 and - 668 respectively, with a change of + 54 from the previous day [1] Recent Market Information - Cold - storage late Fuji apples have limited overall transactions, with on - demand outbound shipments. The trading atmosphere is still dull. The outbound rhythm in production areas is slow, and the enthusiasm of merchants for purchasing is average [2] Market Analysis - The apple futures price fluctuated and declined yesterday. The cold - storage trading is mainly of small and medium - sized fruits and a small amount of general goods, with limited large - sized fruit transactions. The overall transaction is light, and high - quality goods maintain high prices. The apple market transaction is approaching the end, and the consumption recovery is less than expected [3] Strategy - Maintain a neutral view. The current expectations of storage volume and structure have been reflected in the price. Low - priced citrus is constantly impacting apple sales. Attention should be paid to terminal market consumption recovery, inventory structure differentiation, and pre - holiday trading atmosphere. It is expected that the double - festival stocking may start slightly this week, and the overall market is still in the off - season, with stable prices [4] Red Dates Market News and Important Data - Futures: The closing price of the red dates 2605 contract yesterday was 8920 yuan/ton, a change of + 5 yuan/ton from the previous day, with an increase of + 0.06% [5] - Spot: The spot price of first - grade grey dates in Hebei was 8.50 yuan/kg, a change of - 0.10 yuan/kg from the previous day. The spot basis of CJ05 was - 420, a change of - 105 from the previous day [5] Recent Market Information - The acquisition of grey dates in Xinjiang production areas is coming to an end, with a small amount of remaining and tradable goods. The acquisition price is stable, and the acquisition is decentralized. Downstream buyers mainly purchase on demand and focus on new goods transactions [6] Market Analysis - The red dates futures price rose slightly yesterday. The acquisition in production areas is ending, and the acquisition price is stable. The overall market supply is relatively loose due to the combination of new - season and old - season stocks. The demand in the downstream consumption market lacks highlights, and the fundamental contradiction intensifies, putting pressure on prices [7] Strategy - Maintain a neutral view. The acquisition in production areas is completed, and the supply is sufficient due to the superposition of old and new stocks. Although the traditional peak season is coming, downstream merchants purchase on demand, and the sales are average. 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]