Talking Trade – Bordeaux riding high

Bordeaux is set to close April with its highest monthly share of trade by value – roughly 44.2% – since June 2020 (44.9%), when Bordeaux 2019 was released En Primeur.

Bordeaux trade share by value is often driven by the First Growths and even with the overall market broadening, this fact remains true.

This April, the First Growths have comprised 17.7% of trade by value for the total market and 40% of trade by value for Bordeaux – up from 35% of Bordeaux trade in March and 24.5% in the month of February.

Seen in the chart above, the increase in share has not been split equally among the five wines. While some wines have held flat year-to-date or even declined in share from 2020, trade in Lafite Rothschild has picked up. In April, Lafite Rothschild made up 10.9% of all trade by value, its highest monthly share since December 2017.

Drilling down further, Lafite Rothschild 2018 has been the driving force within the LWIN7. Seen in the table above, the wine has topped our ‘Top 5’ chart for the third time this month. This week it was also joined by its fellow 2003 and 2011 vintages.

Price performance for Lafite Rothschild 2018 has also been impressive. The wine traded 3.2% higher this week than the week before and the wine has seen a 4.4% increase in Market Price intramonth.

The remaining four First Growths have by no means been completely left on the side-line. Except for Margaux, the share of trade by value for the remaining three estates increased in April.

The Liv-ex Fine Wine 50, consisting of the lastest 10 physical vintages of First Growths, rose 0.52% in the seven days from the 22nd April to the 29th April. Sterling saw a similar sized move, although opposite, against the Euro in that period (-0.58%) and GBP held flat against the Dollar.

Bordeaux 2020: En Primeur with Liv-ex

The Bordeaux 2020 En Primeur campaign is getting closer. As always, you can follow it all with Liv-ex – here is what you can expect from us this year.

  • Access to key prices and critic scores
  • Independent analysis using our ‘Fair Value’ methodology
  • Daily En Primeur alerts
  • Trading En Primeur stock

Liv-ex will be publishing analysis on all releases as usual. We will also be emailing this analysis within an hour of each release. You can sign up to our daily En Primeur release alerts to avoid missing out.