Group 1: Report Investment Ratings - Investment rating for the apple industry: Neutral [4] - Investment rating for the red date industry: Neutral [8] Group 2: Core Views - Apple market: The overall apple spot market has slow sales, with prices remaining stable. The current inventory is low, and prices are expected to remain stable in the short - term. The new - season late - maturing Fuji acquisition price may be higher than last year. Attention should be paid to the price trend of early - maturing varieties and weather conditions [2][3][4] - Red date market: The red date futures closed higher. The production area shows no obvious signs of reduction. The arrival of goods in the sales area has decreased. The market is in the off - season, with slow inventory digestion. The new - season red dates are in the fruiting stage, and the growth situation during this period may bring market opportunities. Weather conditions need to be closely monitored [7] Group 3: Summary by Section Apple - Market News and Key Data - Futures: The closing price of the apple 2510 contract yesterday was 7,733 yuan/ton, a change of - 6 yuan/ton or - 0.08% from the previous day [1] - Spot: The price of Shandong Qixia 80 first - and second - grade late Fuji was 4.10 yuan/jin, unchanged from the previous day; the price of Shaanxi Luochuan 70 semi - commercial late Fuji was 4.80 yuan/jin, also unchanged from the previous day [1] Apple - Recent Market Information - Spot market: The overall sales are slow, with prices remaining stable. The enthusiasm of cold - storage merchants in the production area to purchase goods is average. The early - maturing fruits are mainly from Dali and Yuncheng, with limited supply and little impact on the market. The remaining supply in the western production area is small, and inventory holders mainly distribute goods to the market themselves. In Shandong, the supply is mainly for the market, and the prices of some goods have slightly decreased due to quality issues. The sales in the sales area are average, affected by summer - cooling fruits [2] Apple - Market Analysis - Futures price: Slightly declined yesterday. The market is in the traditional off - season, with slow sales. The remaining supply in the western production area is small, and the sales pressure is low. The bagging work has ended, and attention should be paid to the actual bagging data [3] - Production area: In the traditional sales off - season, affected by summer - cooling fruits, there is pressure on apple inventory reduction. The large - sized apples account for a large proportion of the remaining supply. The new - season production is expected to be similar to last year, and the acquisition price of new - season late - maturing Fuji may be higher than last year. The sales in the Gansu production area have slowed down, and the remaining supply is mainly in the hands of large fruit companies and large storage merchants. The Shanxi and Henan production areas have basically cleared their inventories. The Liaoning production area has a small amount of remaining supply [3] - Sales area: The number of trucks arriving at the Guangdong wholesale market has decreased. Affected by summer - cooling fruits, the sales of apples are slow, and the terminal consumption has slightly slowed down [3] Apple - Strategy - Maintain a neutral stance. The current inventory is low, providing price support. Short - term prices are expected to remain stable [4] Red Date - Market News and Key Data - Futures: The closing price of the red date 2509 contract yesterday was 10,450 yuan/ton, a change of + 35 yuan/ton or + 0.34% from the previous day [5] - Spot: The price of first - grade gray dates in Hebei was 8.60 yuan/kg, a change of - 0.10 yuan/kg from the previous day [5] Red Date - Recent Market Information - Production area: The main production area of Xinjiang gray dates is in the growth period, and farmers are actively managing their orchards. The dates are in the physiological fruit - dropping stage, and the fruit - setting situation of the first - crop flowers in some orchards is average. Attention should be paid to the fruit - setting of the second - crop flowers and weather changes [6] - Sales area: In the Hebei Cuierzhuang market, 2 trucks of dates arrived, with prices slightly decreasing. The market is in the off - season, and the actual demand has not yet emerged. In the Guangdong Ruyifang market, 6 trucks of dates arrived, and some high - quality dates were actively purchased by merchants [6] Red Date - Market Analysis - Futures price: Closed higher yesterday. There is no obvious sign of production reduction in the production area. The arrival of goods in the sales area has decreased. The market is in the off - season, with slow inventory digestion and inventory levels higher than the same period last year. The new - season red dates are in the fruiting stage, and the growth situation during this period may bring market opportunities. Attention should be paid to the fruit - setting situation in the production area and weather conditions [7] Red Date - Strategy - Maintain a neutral stance. Although there are potential weather disturbances and both futures and spot prices are at historical lows, the market is in the off - season, with a light trading atmosphere and high inventory. The long - short game is expected to intensify, and caution is needed when going long [8]