果蔬品日报：苹果备货进度偏慢，红枣关注消费回暖-20260122

Group 1: Investment Ratings - The investment rating for both the apple and红枣 industries is neutral [4][8] Group 2: Core Views - Apple: The apple market shows a pattern of active production areas but sluggish sales areas, with the overall demand being weak. The price trend is clearly differentiated, with high - quality fruits supported by high warehouse - receipt costs and low excellent - fruit rates, while general - quality fruits are under pressure. The apple stocking progress is slow, and attention should be paid to the pre - Spring Festival stocking, terminal consumption, and the sales of citrus fruits [3] - Red dates: Although the output of red dates this season has decreased, the overall market supply is still relatively abundant due to the combination of old - date inventory and new - date listing. The downstream stocking is mainly based on on - demand purchases, and the consumption recovery strength needs further observation. Attention should be paid to the pre - Spring Festival terminal sales, inventory reduction progress, and the impact of weather on logistics [7] Group 3: Market News and Important Data Apple - Futures: The closing price of the apple 2605 contract yesterday was 9418 yuan/ton, a change of +47 yuan/ton from the previous day, with a change rate of +0.50% [1] - Spot: The price of Shandong Qixia 80 first - and second - grade late Fuji was 4.10 yuan/jin, with no change from the previous day; the price of Shaanxi Luochuan 70 and above semi - commercial late Fuji was 4.20 yuan/jin, also with no change from the previous day. The spot basis AP05 - 1218 changed by - 47 compared to the previous day, and the spot basis AP05 - 1018 also changed by - 47 [1] Red dates - Futures: The closing price of the red date 2605 contract yesterday was 8740 yuan/ton, a change of +40 yuan/ton from the previous day, with a change rate of +0.46% [5] - Spot: The price of first - grade grey dates in Hebei was 8.00 yuan/kg, with no change from the previous day. The spot basis CJ05 - 740 changed by - 40 compared to the previous day [5] Group 4: Recent Market Information Apple - The overall market situation in the production areas is stable, and the Spring Festival stocking is gradually progressing. The transaction has slightly improved compared to the previous period, but the volume of farmers' fruit sales is still limited. The sales areas have slow sales, and the transit warehouses are seriously overstocked [2] Red dates - The purchase of grey dates in Xinjiang production areas has ended. The raw material purchase adheres to the principle of pricing based on quality. In the sales areas, the market is in the Spring Festival stocking stage, and the actual prices vary according to the origin and quality [6][7] Group 5: Market Analysis Apple - The apple futures price rose and then fell yesterday, closing higher. The overall demand in the market is weak, and the price trend is differentiated. The current pattern is active production areas but sluggish sales areas, and it is significantly affected by low - price fruits such as cherries. Attention should be paid to the pre - Spring Festival stocking and terminal consumption [3] Red dates - The red date futures price fluctuated upward after opening lower yesterday. The purchase in the production areas has ended, and the industry's focus has shifted to terminal consumption. Although the output has decreased, the supply is still abundant. The downstream stocking is on - demand, and the consumption recovery needs further observation [7] Group 6: Strategy - The strategy for both the apple and red date industries is neutral [4][8]