苹果市场周报-20251231

1. Report Industry Investment Rating - No relevant content provided. 2. Core Viewpoints of the Report - This week, the price of the Apple Futures 2605 contract decreased, with a weekly decline of approximately 1.37%. The market for high - quality stored Fuji apples is relatively stable, while the prices of ordinary fruit - grower supplies are mainly determined by quality. The overall trading atmosphere in the production areas is not strong, and most merchants maintain on - demand procurement. In the short term, the price will mainly fluctuate [4][6]. 3. Summary by Related Catalog 3.1 Week - to - Week Summary - Market Review: The price of the Apple Futures 2605 contract decreased, with a weekly decline of about 1.37% [4][6]. - Market Outlook: High - quality stored Fuji apples have a relatively stable market. In Shaanxi, some fruit growers are willing to lower prices, and transactions are mainly small amounts of two - grade supplies. In Shandong, transactions are sporadic. In Gansu, merchants purchase fruit - grower supplies as needed, and the packaging and shipping are stable. In the sales areas, cherries, citrus and other fruits are popular, and the short - term price will fluctuate [4]. - Future Trading Tips: Monitor fruit prices and consumption [4]. 3.2 Futures and Spot Markets 3.2.1 Futures Market - The current price of the Apple Futures 2605 contract is 9120, with a decline of 39 (0.43%) compared to the previous trading day. The total trading volume is 78,828, and the open interest is 134,224, with a decrease of 5,259. As of this week, the net position of the top twenty in Apple Futures is 1,964 lots, and the number of warehouse receipts is 0 [6][13]. 3.2.2 Spot Market - As of December 31, 2025, the mainstream price of 80 first - and second - grade fruit - grower supplies of bagged Red Fuji in Qixia, Yantai, Shandong is 4.0 yuan per catty, and the price of bagged Fuji apples above 75 in Yiyuan, Shandong is 2.40 yuan per catty [16]. 3.3 Industry Situation and Options 3.3.1 Industry Situation 3.3.1.1 Supply Side - As of December 24, 2025, the cold - storage inventory of apples in the major producing areas nationwide is 7.4404 billion kilograms, a decrease of 89.4 million kilograms from last week. The inventory reduction speed is lower than the same period last year. The storage capacity ratio in Shandong is 52.98%, a decrease of 0.43% from last week, and that in Shaanxi is 56.84%, a decrease of 0.58% from last week [24]. 3.3.1.2 Demand Side - As of December 25, the average daily number of early - morning arriving trucks in the major apple wholesale markets in Guangdong has increased. The profit of 80 first - and second - grade apple storage merchants has paused (represented by 0). As of December 26, the wholesale price of all varieties of apples is 9.30 yuan per kilogram, with no change from last week; the wholesale price of Fuji apples is 9.10 yuan per kilogram, a decrease of 0.20 yuan per kilogram from last week. The weekly average wholesale price of 5 kinds of fruits is 7.74 yuan per kilogram, an increase of 0.13 yuan per kilogram from last week. In November 2025, China's fresh apple exports were about 121,639.681 tons, with an export value of 123,853,780 US dollars and an average export price of 1,018.09 US dollars per ton. The export volume increased by 51.24% compared to October and 12.38% compared to November 2024 [26][31][36][39]. 3.3.2 Options Market - No specific summary content is provided for the implied volatility of at - the - money Apple options this week, only the relevant chart is mentioned [40]. 3.4 Futures - Stock Correlation - A chart of the price - earnings ratio of Honghui Fruit & Vegetable Co., Ltd. is provided, but no specific analysis is given [42][43].