It seems we are fast approaching the zenith of this year’s campaign, with all but a smattering of left banks and the biggest right banks yet to emerge. Today saw the release of the first tranches of Chateaux Margaux (€550 per bottle ex-negociant) and Latour (€600 p/b ex-negociant), both of which are, predictably, up significantly on 2005 (+34% and +46% respectively). Other notable releases included:
Palmer €215 p/b ex-negociant: +152.9% on 2008 (€85) and +43.3% on 2005 (€150)
Pichon Baron €90 p/b ex-negociant: +109.3% on 2008 (€43) and +15.4% on 2005 (€78)
Conseillante €138 p/b ex-negociant: +232.5% on 2008 (€41.5) and +76.9% on 2005 (€78)
Canon €90 p/b ex-negociant: +150% on 2008 (€36) and +66.7% on 2005 (€54)
Ducru Beaucaillou 180 p/b ex-negociant: +188% on 2008 (€62.5) and +66.7% on 2005 (€108)
Clarence Haut Brion 90 p/b ex-negociant: +150% on 2008 (€36) and +164.7% on 2005 (€34)
Pape Clement €92.4 p/b ex-negociant: +42.4% on 2008 (€64.9) and +2.7% on 2005 (€90)
In all, the day's releases rose an average of 44% on 2005.
The First Growths attracted relatively strong demand on the exchange, despite the small quantities initially allocated. Latour 2009 traded at over £10,200 per case this afternoon – above the current trading price of the 2000 and 2005 vintages. The release also aided back vintage trade somewhat, boosting Latour 2000 to an all-time high of £9,105.
Unsurprisingly, Lafite 2009 prices continue to push upwards, with the latest vintage touching £13,000 this afternoon. The 2000 also benefited from the swell in prices, hitting £18,000.
Away from the Firsts, Carruades de Lafite has seen extremely high volumes of trade and a significant rise in prices since its release (climbing to £2,520 from £1,838 yesterday). Mission Haut Brion prices, however, are on the downward slope, dropping from £6,100 to £5,500.
Will the final First emerge tomorrow?
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