农产品日报：苹果产区展现好转，红枣库存压力依旧存在-20251225

Group 1: Report Industry Investment Rating - The investment rating for both the apple and red date industries is neutral [4][8] Group 2: Core Views of the Report - The apple market is in a supply - demand game stage. The current inventory quantity and quality are generally low. High - quality apples show strong price performance, while poor - quality ones face sales pressure. Terminal demand is weak, and low - priced substitute fruits compress the market space. The inventory backlog in transit warehouses remains a problem [4] - The red date market has a "supply increase and demand stability" pattern. The inventory shows the characteristic of "the superposition of old - season carry - over goods and new - season listed goods". The inventory pressure suppresses the market, and the low - price sales of old goods squeeze the space for new goods. The subsequent focus is on the downstream sales rhythm during the upcoming consumption peak season [8] Group 3: Summary by Related Catalogs Apple Market News and Important Data - Futures: The closing price of the apple 2605 contract was 9191 yuan/ton, a change of - 39 yuan/ton (- 0.42%) 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 - commodity late Fuji was 4.20 yuan/jin, also unchanged from the previous day. The spot basis AP05 was - 991 and - 791 respectively, with a change of + 39 from the previous day [1] Recent Market Information - The overall price of late Fuji in the warehouse is stable, and the trading atmosphere is not strong. In the western producing areas, merchants are sporadically looking for goods, mainly for farmers' two - grade goods. In the Shandong producing area, the outbound volume has slowed down. The terminal consumption has not improved significantly, and there is pressure on daily digestion. With the approaching of festivals, packaging and shipping may increase, and the mainstream price is expected to remain stable [2] Market Analysis - The apple futures price declined slightly yesterday. The Shaanxi producing area showed improvement in trading, but the overall walking speed was slow. The inventory structure is "less high - quality fruits and more poor - quality fruits". The low - price pressure of citrus on apples persists. The "Double Festival" stocking did not bring obvious improvement. Low - price citrus has a great impact on apple sales, and there is backlog in transit warehouses. The follow - up focus is on the Spring Festival stocking atmosphere and terminal market sales [3] Strategy - The investment strategy for the apple market is neutral due to the current supply - demand situation and inventory pressure [4] Red Date Market News and Important Data - Futures: The closing price of the red date 2605 contract was 8890 yuan/ton, a change of + 140 yuan/ton (+ 1.60%) from the previous day [5] - Spot: The price of first - grade grey dates in Hebei was 8.40 yuan/kg, unchanged from the previous day. The spot basis CJ05 was - 490, a change of - 140 from the previous day [5] Recent Market Information - The acquisition of grey dates in Xinjiang is coming to an end, with little remaining goods. The prices in different regions vary. In the Hebei and Guangdong markets, the arrival volume is small, the trading atmosphere is general, and the prices are stable [6] Market Analysis - The red date futures price fluctuated upwards yesterday. The acquisition is almost over, with little remaining goods. The quality is good but the fruits are small. The inventory is piling up, and the sales speed is average. The consumption is poor. The follow - up focus is on the peak - season consumption. The inventory in the sales areas is relatively abundant, and the supply - side pressure is emerging. The inventory trend is closely related to the peak - season consumption [7] Strategy - The investment strategy for the red date market is neutral considering the current supply - demand and inventory situation [8]