果蔬品日报：苹果节日备货启动，红枣重心转至下游-20260107

Report Industry Investment Rating - The investment strategy for both the apple and红枣 industries is neutral [4][8] Core Viewpoints - For the apple industry, short - term apple transactions are expected to remain dull with stable mainstream prices, awaiting the start of Spring Festival stocking. The market is affected by factors such as festival stocking, alternative fruits, and inventory structure. The price shows a two - level differentiation, with good fruit prices firm and poor fruit prices weakening [2][3] - For the红枣 industry, the focus has shifted to the mid - downstream. Although there was a reduction in production compared to previous years, the supply is sufficient. The market needs to focus on actual demand and sales speed during the lunar month consumption peak. There is a large inventory pressure, and the price trend depends on the improvement of demand during the Spring Festival [7] Summary by Directory Apple Market News and Important Data - Futures: The closing price of the apple 2605 contract yesterday was 9614 yuan/ton, up 67 yuan/ton or 0.70% from the previous day. - Spot: The price of Shandong Qixia 80 first - and second - grade late Fuji was 4.10 yuan/jin, unchanged from the previous day, with a spot basis of AP05 - 1414, down 67 from the previous day. The price of Shaanxi Luochuan 70 and above semi - commodity late Fuji was 4.20 yuan/jin, unchanged from the previous day, with a spot basis of AP05 - 1214, down 67 from the previous day [1] Recent Market Information - In the production areas, the trading atmosphere of late Fuji in the warehouses has slightly improved. Merchants are gradually packaging their own inventory for shipment. High - cost - performance fruit farmer goods are hard to find. The overall transaction is not fast, and merchants mainly package and ship their own inventory as needed. The current terminal consumption of apples is slow [2] Market Analysis - Yesterday, the apple futures price fluctuated within a narrow range. The overall trading speed in the apple production areas was slow. Merchants mainly purchased on - demand, and fruit farmers were reluctant to sell. The price of average and poor - quality fruit has loosened. The Spring Festival stocking in January may improve sales, but the low - price alternative fruits in the sales areas compress the apple market space. The low excellent fruit rate and insufficient hardness of cold - storage apples have led to a decrease in the number of delivery fruits. The transfer of the 01 contract to the 05 contract is also a factor in the increase in the futures price. The cold - storage inventory removal rate is lower than the same period in previous years, and the inventory removal rhythm this month will affect the market supply and demand [3] Strategy - Neutral [4] Red Dates Market News and Important Data - Futures: The closing price of the red dates 2605 contract yesterday was 8975 yuan/ton, up 20 yuan/ton or 0.22% from the previous day. - Spot: The price of first - grade grey dates in Hebei was 8.20 yuan/kg, unchanged from the previous day, with a spot basis of CJ05 - 775, down 20 from the previous day [5] Recent Market Information - The acquisition of grey dates in Xinjiang production areas has ended. The mainstream purchase prices vary by region. In the sales areas, the Hebei Cuierzhuang market and the Guangdong Ruyifang market have different arrival and trading situations, and the sales - area prices have declined compared to before the festival [6] Market Analysis - The red dates futures price closed up with fluctuations yesterday. The acquisition work in the production areas has ended. Although there was a reduction in production compared to previous years, the supply is sufficient. The focus has shifted to the mid - downstream. The downstream markets have sufficient arrivals and purchase on - demand with stable prices. During the lunar month consumption peak, attention should be paid to actual demand and sales speed. There is a large inventory pressure due to the superposition of new and old stocks, and the price trend depends on the improvement of demand during the Spring Festival [7] Strategy - Neutral [8]