There have been good levels of trade on Liv-ex over the last week, although we must wait another couple of days to find out if this has had an effect on October’s fine wine indices. On the exchange we have seen the most units traded in a week since January; Bordeaux’s trade share has risen above 80% for the first time since mid-September; and once again, Bordeaux First Growths are trading in good quantities. This week they accounted for 38% of the overall trade share, the highest in two months.
Following on from its increased activity over the last fortnight, Mouton Rothschild was once again the most in-demand First Growth, and took 16% of overall trade. The ‘off’ vintage theme continued with Mouton Rothschild 2008 and Margaux 2008 both among the most traded by value. It’s not just the First Growths that have been trading well for Bordeaux: Palmer 2004 and Cos d’Estournel 2006 and 2008 also saw good activity.
Last week visitors flocked to the UGC tasting at London's Royal Opera House, and Decanter reported that the Bordeaux 2012s were “showing well.” There has, however, been no immediate upturn in 2012 trade. But in general there have been some encouraging signs for Bordeaux, and with the Liv-ex 50 currently running flat on September’s level (265.10 to last month’s close of 265.25) there is still hope that the month can end in the right direction.