Summer lull
Despite the summer holidays being well underway, trade on the Exchange increased marginally from last week. Bordeaux’s share of trade fell, although it remained strong at 76.8%. Burgundy’s trade share also slipped, down to the 6.5%. All other regions increased their trade share.
Liv-ex Fine Wine 50 rises
The First Growths accounted for a relatively high 38.1% of trade this week, due to absolute values falling in other areas. After a month of barely moving, in the last two weeks the Liv-ex Fine Wine 50 has climbed from 345 to 347 and back again, before climbing again to close at 347.1 yesterday evening. It is likely the index’s recent gains have been aided by sterling’s weakness against the euro, which hit a nine-month low on Thursday.
Baron swapping
Last week the market was focused on the Lafite Rothschild; this week the market turned to the stable of Mouton Rothschild. Clerc Milon 2013 was the most traded wine by value and volume in a week for the first time ever. It might seem unusual for an off-vintage 5th growth to trade this heavily, yet in recent years Mouton’s ownership of Clerc Milon has led to the wine becoming a popular brand in China, which has led to increased trade on Liv-ex. Second in the table was Mouton Rothschild 2011. The last trade price of £3,508 is an all-time high for a Liv-ex trade, yet still 7% under the 2012 opening price.
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