The Cellar Watch April Market Report has been released. Containing all the latest Liv-ex research and analysis, the full issue includes:
- March “Madness”
- First Growth risers
- Bordeaux vintages: avg. price vs score
- Suckling and Molesworth on Bordeaux 2015
- Final thought: Bordeaux 2015 – Truffle hunting
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You can download page one – with charts and data – here, or read the text below:
March proved to be a very positive month for the market. All of the major indices made gains, while trade on the Exchange was the most active since October 2015. By the end of the month, the bid:offer ratio had risen to 1.2. Whether this is all related to the collapsing Sterling—or has been spurred on by excitement surrounding the approaching En Primeur campaign remains to be seen.
Bordeaux’s trade share remained shy of 80%, with the region accounting for 78.1% of activity in March. Burgundy and Italy saw little fluctuation on the previous months: 6.4% and 5.9% respectively, while both Champagne (2.3%) and the Rhone (1.6%) dipped. The share for the “others” category (5.7%) was boosted by USA activity, with Opus One, Screaming Eagle and Scarecrow finding the bid.
First Growth action
The top five wines traded by value on the Exchange in March were the five Bordeaux First Growths, with Lafite Rothschild (10% ) once again taking the top spot. Outside of the First Growths, Cheval Blanc and Pontet Canet saw the most activity. 2009 took 15.9% of Bordeaux trade by value, while 2008 (9.5%) also proved popular.
Onward and upward
Almost all of the indices climbed in March. The benchmark Liv-ex 100 Index gained 2.7%, its largest month-on-month rise since February 2013, when it rose 3.1%. The Bordeaux 500 Index gained 2.4%, its biggest rise since February 2011. Within this index, the Bordeaux First Growths and their second wines showed the strongest performance. Only the Champagne 50 failed to rally.
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