In November we reported that flagging demand for the First Growths had reduced their share of turnover on the Liv-ex exchange. The negative mood persisted last month and their share of trade fell to 32 per cent. Since the start of the year, however, the Firsts have bounced back. All five brands have seen an uptick in demand, pushing their combined share of weekly turnover back up to 53 per cent. The Liv-ex Fine Wine 50 has also regained lost ground and is up 1.6 per cent for the month so far.

The table below shows the First Growths' share of trade on Liv-ex as a three-week moving average. 

First Growth trade volume

In the January Cellar Watch Market Report we suggested that First Growth prices must stabilise if the market is to recover in 2012. Does increased demand for the Firsts indicate that confidence is beginning to return?