Trade on the exchange slowed down in the latter half of this week as the early bank holiday started in France. Bordeaux’s mini-revival also came to an end, with the region’s share of trade by value slumping to 64%.
Joseph Faiveley, Musigny, 2015 found the bid for the first time and topped the trade by value table, complementing a strong week for wines from Burgundy. Lafleur 2016’s release last Friday piqued interest in fairly priced back vintages, including 2008 and 2014, which was the second most traded wine by value this week.
Bordeaux 2016 Update
The En Primeur campaign was confined to three days this week, all of which were probably quieter than expected. Monday commenced with Langoa Barton, Sociando Mallet, Croix Beaucaillou and a well-received offering of Beychevelle. Confusion then reigned as one of the most important releases of the campaign, Lafite Rothschild, was offered in what transpired to be a limited first tranche. The campaign effectively shut down for the remainder of Monday afternoon as merchants scrambled for information about the structure of the offer.
Tuesday saw the St. Emilion pair of Angelus and Pavie offered at prices that signified a new level of ambition, followed by Petit Village which was priced in a similar vein. On Wednesday a very highly rated Lynch Bages successfully debuted before Gazin rounded off proceedings with an eye-catching 31% ex-negociant price increase.
Next week is expected to start with the release of two First Growths on Tuesday. All of the releases will be published on Liv-ex Insights, and tweeted with the #bdx16 as they happen.
Liv-ex in the News
For the second year in a row, Liv-ex was awarded ‘Supply Chain Initiative of the Year’ by the drinks business. This year Liv-ex won the award for Wine Matcher, a machine learning tool for the wine industry that allows merchants to take lists and transform them into a standardised set of wine names and formats with unique IDs (LWINs). You can read about the award here. Wine Matcher will be fully available to members in June.