Report Industry Investment Rating - Not provided Core View of the Report - The current market focus has shifted to the consumer end. During this week, the arrival of goods in the Hebei sales area market has continued, with an average of about 7 trucks per day. The arriving goods are mainly off - grade, and the mainstream price has remained stable. As of January 14, 2026, the physical inventory of 36 sample points of red dates this week was 14,415 tons, a decrease of 885 tons from last week, a month - on - month decrease of 5.78%, and a year - on - year increase of 35%. The sample - point inventory has decreased month - on - month. Currently, red dates have entered the peak stocking period, and the enthusiasm of downstream customers to purchase goods has increased. Attention should be paid to the pre - Spring Festival stocking situation [2] Summary According to Relevant Catalogs Futures Market - The closing price of the main futures contract for red dates was 8,815 yuan/ton, a decrease of 60 yuan; the main contract's open interest was 128,541 lots, an increase of 4,240 lots. The net long position of the top 20 futures holders was - 19,547 lots, a decrease of 64 lots; the number of warehouse receipts was 3,298, an increase of 27; the total valid warehouse receipt forecast was 324, a decrease of 27 [2] Spot Market - The price of Kashgar red date bulk goods was 6.5 yuan/kg, unchanged; the wholesale price of first - grade grey dates in Hebei was 4.1 yuan/jin, unchanged; the price of Alar red date bulk goods was 5.65 yuan/kg, unchanged; the wholesale price of first - grade grey dates in Henan was 4.15 yuan/jin; the price of Aksu red date bulk goods was 5.15 yuan/kg, unchanged; the price of special - grade red dates in Henan was 9.44 yuan/kg, a decrease of 0.03 yuan; the price of special - grade red dates in Hebei was 9.4 yuan/kg, a decrease of 0.1 yuan; the price of special - grade red dates in Guangdong was 10 yuan/kg, unchanged; the price of first - grade red dates in Guangdong was 8.8 yuan/kg, unchanged [2] Upstream Market - The annual output of red dates was 606.9 tons, an increase of 318.7 tons; the planting area was 199.3 hectares, a decrease of 4.1 hectares [2] Industry Situation - The national red date inventory was 14,415 tons, a decrease of 885 tons; the monthly export volume of red dates was 3,537,566 kg, an increase of 1,332,346 kg; the cumulative monthly export volume was 29,291,188 kg, an increase of 3,537,566 kg [2] Downstream Situation - The cumulative quarterly sales volume of red dates of Hao Xiang Ni was 36,480.43 tons, a decrease of 2,981.06 tons; the cumulative year - on - year production of red dates of Hao Xiang Ni was 1.47%, a decrease of 34.59 percentage points; the average daily number of arriving trucks at Ruyifang Market was 5.43, a decrease of 0.77; the monthly average wholesale price of red dates was 10.33 yuan/kg, an increase of 0.46 yuan [2] Industry News - The price in the Hebei Cuierzhuang market has remained stable for the time being. Local processing plants mainly process and ship their own goods, and holders of goods are actively shipping. Downstream merchants make purchases as needed. Currently, it is the peak stocking period, and holders of goods report that the sales volume has improved. In the Guangdong market, 10 trucks of goods have arrived, the price has remained stable for the time being, the market has sufficient arrivals, and downstream customers are actively selecting and purchasing as needed [2]

Core Viewpoint - The red jujube futures market experienced a rapid increase, with the main contract peaking at 9060.00 yuan, closing at 9050.00 yuan, reflecting a 2.09% increase [1] Group 1: Market Analysis - According to Green Dahuah Futures, the short-term price of red jujubes may continue to operate at low levels due to favorable weather conditions in Xinjiang and active management by farmers, but the market lacks supply-side guidance [2] - The demand for red jujubes is expected to weaken as summer approaches, with high inventory levels and new delivery regulations putting additional pressure on prices [2] - The trading focus will shift to the fruit-setting situation of jujube trees and weather changes in production areas, with a cautious outlook on consumption during the off-peak season [2] Group 2: Supply and Demand Dynamics - Zhonghui Futures noted that the production conditions for the new season jujube trees are good, but high inventory levels from previous seasons are creating pressure on the market [3] - The physical inventory reported by 36 sample points was 106,753 tons, an increase of 85 tons week-on-week, significantly higher than the same period last year [3] - As temperatures rise, the demand for fresh fruits is expected to increase, but the overall demand for dried fruits as a seasonal supplement is anticipated to weaken [3]