Cellar Watch June The Cellar Watch July Market Report has been released.

Containing all the latest Liv-ex research and analysis, the full issue includes:

  • En Primeur wanes, market waxes
  • 2011 vintage value
  • The currency game
  • Galloni on 1970s Cristal
  • Final thought: Bordeaux 2016 – hit and miss

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You can download page one – with charts and data – here, or read the text below:

En Primeur wanes, market waxes

The 2016 En Primeur campaign drew to a close at the start of the month. As we mentioned in our concluding report, rather than being an entirely successful campaign it was rather ‘hit and miss’, with too many chateaux getting their prices wrong. This did not impact the secondary market negatively: June saw the highest levels of trade this year.

Italian Renaissance

Bordeaux’s trade share breached the 70% barrier for the first month this year, rising from 69% in May to 72% in June. Burgundy slipped once again, falling to a yearly low of 9.4%. Italy picked up the slack, accounting for 8.8% of trade by value as well as 17.6% of trade by volume. Sassicaia 2014 was in sharp focus.

Barons’ Bordeaux

The Barons de Rothschild had yet another strong month. Lafite Rothschild led the way with a 12.4% share of all trade on the exchange. Lafite’s second wine, Carruades, traded more than Haut Brion, Margaux and Latour thanks to high activity of the recently physical 2014 vintage. Overall, the most actively traded vintages were the ‘great’ 2005, 2009 and 2010 once again.

Broad index gains

All the Liv-ex indices rose in June, with the highest increases seen in the Liv-ex 1000—the broadest measure of the market— which gained 1.1% to complete 19 consecutive months in which it has risen. The Liv-ex 100 increased by 1%. The First Growths made more modest gains, with the Liv-ex Fine Wine 50 edging up just 0.3%.

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