The Cellar Watch June Market Report has been released. Containing all the latest Liv-ex research and analysis, the full issue includes:
- Broadening out
- Six months of gains
- Liv-ex 100 month on month
- Neal Martin on Bordeaux 2006
- Final thought: Value in the back vintages
To access the full report, please log in or subscribe to Cellar Watch. The report will be available to download from Cellar Watch next week. Pro and Premium subscribers will have already received it via email.
You can download page one – with charts and data – here, or read the text below:
With the Bordeaux 2015 campaign gathering pace and distracting the trade in May, the value of secondary market activity dipped by a fifth on the previous month. The bid:offer ratio touched a new high of 1.76 towards the beginning of May but had pulled back to 1.1 by month end. With the campaign continuing to unfold into June, market sentiment remains in the balance.
Bordeaux took a devilishly low 66.6% of trade by value in May as activity broadened across other regions. Burgundy remained the second most traded, accounting for 10.6% while Champagne and Italy took 8.2% and 8% respectively. “Other” regions accounted for 5.3% boosted by activity for the USA’s Screaming Eagle. The Rhone took a meagre 1.3%.
The four ‘great’ vintages of the century—2000, 2005, 2009 and 2010—dominated Bordeaux trade in May, collectively accounting for nearly half of activity for the region. 2009, taking 19.3%, traded most while Petrus was the most active wine. Outside of the First Growths, Pontet Canet and Pavie also found the bid.
Six months of gains
The Liv-ex 100 Index gained 0.6% in May, marking its sixth month of consecutive rises—the first time it has seen such a streak since March 2011. It also bucked the trend of recent years by rising in the midst of an En Primeur campaign. The last time it did this was in May 2010. The Liv-ex 50 and 1000 gained 0.5% and 0.4% respectively, while the Bordeaux 500 dipped 0.2%.
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