苹果市场周报-20260206

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints - This week, the price of the Apple Futures 2605 contract rose, with a weekly increase of about 0.18%. The de - stocking in the production areas continued to accelerate, and merchants actively disposed of their self - stored inventory. As of February 4, 2026, the inventory in apple cold storages in the main production areas was 6.1981 billion tons, a decrease of 342,500 tons from the previous week, and the de - stocking speed was faster than the same period last year. In the Shandong and Shaanxi production areas, the storage capacity ratios decreased. The arrival of trucks in the sales areas was dense, but there was a backlog in the transfer warehouses and on the ground. The prices of ordinary fruit farmer supplies were stable to slightly weak, while the prices of high - quality supplies remained stable. With the approaching long holiday, short - term risk control should be noted [4][10]. 3. Summary by Directory 3.1 Week - to - Week Summary - The price of the Apple Futures 2605 contract rose this week, with a weekly increase of 0.18%. The de - stocking in the production areas accelerated, and the inventory in apple cold storages in the main production areas decreased. The de - stocking speed was faster than last year. The arrival of trucks in the sales areas was dense, but there was a backlog. Fruit farmer ordinary supplies were stable to slightly weak, and high - quality supplies were stable. Short - term risk control should be noted due to the approaching long holiday [4]. 3.2 Futures and Spot Markets - Futures Market: The price of the Apple Futures 2605 contract rose this week, with a weekly increase of about 0.18%. As of the end of the week, the net position of the top 20 in apple futures was 4,955 lots, and the number of apple futures warehouse receipts was 0 [10][17]. - Spot Market: As of February 6, 2026, the mainstream price of 80 first - and second - grade fruit farmer supplies of bagged Red Fuji in Qixia, Yantai, Shandong was 3.7 yuan per catty; the price of bagged Fuji apples above 75 in Yiyuan, Shandong was 2.40 yuan per catty [20]. 3.3 Industry Situation and Options - Supply Side: As of February 4, 2026, the inventory in apple cold storages in the main production areas was 6.1981 billion tons, a decrease of 342,500 tons from the previous week. The de - stocking speed was faster than the same period last year. The storage capacity ratio in the Shandong production area was 47.05%, a decrease of 1.96% from the previous week; the storage capacity ratio in the Shaanxi production area was 48.82%, a decrease of 2.03% from the previous week [25]. - Demand Side: - As of February 5, the average daily number of trucks arriving in the morning at major apple wholesale markets in Guangdong increased. The profit of 80 first - and second - grade apple storage merchants was 0.3 yuan per catty [27]. - As of January 30, 2026, the wholesale price of all varieties of apples was 9.55 yuan per kilogram, a week - on - week increase of 0.1 yuan per kilogram; the wholesale price of Fuji apples was 9.33 yuan per kilogram, a week - on - week increase of 0.14 yuan per kilogram [32]. - As of January 30, 2026, the weekly average wholesale price of 5 kinds of fruits (including Fuji apples, bananas, grapes, pears, and watermelons) was 7.97 yuan per kilogram, a week - on - week increase of 0.02 yuan per kilogram [36]. - According to customs data, in December 2025, China's fresh apple exports totaled about 156,500 tons, a month - on - month increase of 28.625% and a year - on - year increase of 28%. The export value was 162,842,207 US dollars [40]. - Options Market: Information about the implied volatility of at - the - money options for apples this week was presented, but specific data was not detailed in the summary [41]. 3.4 Futures - Stock Correlation - The report presented the price - to - earnings ratio of Honghui Fruit & Vegetable Co., Ltd., but no specific analysis or conclusion was provided [43].