苹果走货不及预期，红枣供需整体宽松

Report Industry Investment Rating - The investment rating for both the apple and red date industries is neutral [3][8] Core Viewpoints - Apple: After the Spring Festival, the apple market is affected by factors such as gift - box quality issues, abnormal weather, and high inventory, leading to weak demand and slow sales in most production areas. However, the low - priced apples in Liaoning have better sales. It is expected that the post - festival replenishment demand will gradually be released, and the overall sales rhythm in the sales areas will remain stable [2] - Red Date: The red date market is in a consumption off - season after the Spring Festival. The new - season red dates are of good quality, which has attracted more purchasing merchants but with reduced individual purchase volume. The overall supply in the production areas is stable, and the inventory structure shows a characteristic of less high - quality goods and more ordinary goods. The inventory turnover efficiency of high - quality red dates is expected to be higher than that of ordinary goods [7] Summary by Related Catalogs Apple Market News and Important Data - Futures: The closing price of the apple 2605 contract was 9,749 yuan/ton, up 44 yuan/ton or 0.45% from the previous day [1] - Spot: The price of Shandong Qixia 80 first - and second - grade late Fuji was 4.00 yuan/jin, unchanged from the previous day; the price of Shaanxi Luochuan 70 and above semi - commercial late Fuji was 4.20 yuan/jin, unchanged from the previous day. The spot basis AP05 was - 1749 and - 1349 respectively, down 44 from the previous day [1] Market Analysis - The apple futures price fluctuated higher. The apple consumption peak season has ended. Affected by gift - box quality, abnormal weather, and high inventory, the post - festival market demand is weak, and the sales in most production areas are slower than expected. It is expected that the post - festival replenishment demand will gradually be released, and the sales of gift - box products will end, while the transaction of general products will be adjusted with inventory reduction [2] Strategy - The strategy for the apple market is neutral [3] Red Date Market News and Important Data - Futures: The closing price of the red date 2605 contract was 8,910 yuan/ton, up 65 yuan/ton or 0.73% from the previous day [4] - Spot: The price of first - grade gray jujube in Hebei was 7.90 yuan/kg, unchanged from the previous day. The spot basis CJ05 was - 1010, down 65 from the previous day [4] Market Analysis - The red date futures price closed higher in a high - level oscillation. After the Spring Festival, the market enters the consumption off - season. The new - season red dates are of good quality, which has attracted more purchasing merchants but with reduced individual purchase volume. The overall supply in the production areas is stable, and the inventory structure shows a characteristic of less high - quality goods and more ordinary goods. The inventory turnover efficiency of high - quality red dates is expected to be higher than that of ordinary goods [7] Strategy - The strategy for the red date market is neutral [8]