Rui Da Qi Huo·2025-12-26 08:58Report Summary 1. Report Industry Investment Rating - Not provided in the content. 2. Core View - This week, the price of the Apple Futures 2605 contract increased with a weekly gain of about 0.52%. Apple产区 has seen a slight increase in the number of buyers, but the transaction of fruit farmers' goods is limited. The in - warehouse packaging and shipping have increased. As of December 24, 2025, the cold - storage inventory of apples in the main production areas in China was 7.4404 billion tons, a decrease of 89,400 tons from last week, with a slower de - stocking speed than the same period last year. The sales area has seen an increase in arrivals. Driven by festivals such as the Winter Solstice and Christmas, the sales have improved slightly compared to the previous period, but there is still pressure on digestion. The short - term price will mainly fluctuate. Future trading should focus on fruit prices and consumption. [4][6] 3. Summary by Relevant Catalogs 3.1. Week - to - Week Summary - The price of the Apple Futures 2605 contract increased this week, with a weekly gain of about 0.52%. The number of buyers in apple production areas increased slightly, but the transaction of fruit farmers' goods was limited. The cold - storage inventory decreased, but the de - stocking speed was slower than last year. The sales in the sales area improved slightly. The short - term price will mainly fluctuate. Future trading should focus on fruit prices and consumption. [4][6] 3.2. Futures and Spot Markets - Futures Market: The price of the Apple Futures 2605 contract increased this week, with a weekly gain of about 0.52%. As of the end of this week, the net position of the top 20 in apple futures was 4,848 lots, and the number of apple futures warehouse receipts was 0. [6][13] - Spot Market: As of December 26, 2025, the mainstream price of fruit farmers' goods of Shandong Yantai Qixia paper - bagged Red Fuji apples above 80 and of the first - and second - grade was 4.0 yuan per catty; the price of Shandong Yiyuan paper - bagged Fuji apples above 75 was 2.60 yuan per catty. [16] 3.3. Industry Situation and Options - Supply Side: As of December 24, 2025, the cold - storage inventory of apples in the main production areas in China was 7.4404 billion tons, a decrease of 89,400 tons from last week, with a slower de - stocking speed than the same period last year. The storage capacity ratio in Shandong was 52.98%, a decrease of 0.43% from last week, and that in Shaanxi was 56.84%, a decrease of 0.58% from last week. [24] - Demand Side: - As of December 25, the average daily number of early - morning arrivals at major apple wholesale markets in Guangdong increased. The profit of 80 first - and second - grade apple storage merchants was suspended (represented by 0). - As of December 19, 2025, the average wholesale price of all apple varieties was 9.30 yuan per kilogram, a week - on - week decrease of 0.07 yuan per kilogram; the wholesale price of Fuji apples was 9.30 yuan per kilogram, a week - on - week increase of 0.17 yuan per kilogram. - As of December 19, 2025, the weekly average wholesale price of 5 kinds of fruits was 7.61 yuan per kilogram, a week - on - week increase of 0.17 yuan per kilogram. - In October 2025, China's apple export volume was 80,000 tons, a month - on - month increase of 14.29%, and the export value was 779.12 million US dollars, a month - on - month increase of 12.62%. [26][31][35][39] - Options Market: Information about the implied volatility of at - the - money apple options this week is provided, but specific data is not described in text. [40] 3.4. Futures - Stock Correlation - A graph of the price - earnings ratio of Honghui Fruit & Vegetable is presented, but specific analysis is not provided. [42]