|Tom Cannavan's wine-pages.com|
Below is just a brief extract from the latest Market Report. For the full report and to access Liv-Ex's services, sign-up with them at www.liv-ex.com
Liv-Ex Market Report
by Liv-ex.com, April 2007
April is usually a calm month before the annual En Primeur storm. While many merchants did report quiet times, the investment market remained buoyant. Exchange turnover doubled year on year and prices leapt forward again. The Liv-ex 100 (see www.liv-ex.com for details) set yet another new all time high with a 9.2% rise for the month, leaving the twelve-month gain at 57.1% (to find Liv-ex 100 on Bloomberg: see index code LIVX100).
You will recall a similar picture in June last year when the benchmark added 9.4%. Then it was a reaction to the release prices of the 2005 vintage- this time it would seem to be all about expectations for 2006. Having attended the Union des Grand Crus in Bordeaux at the beginning of the month it became clear to many traders that the Chateaux owners were unlikely to cut prices far enough to make the new vintage interesting. As our annual survey suggests, the market is expecting prices to be down about a third from 2005, but still way above any other vintage in history. With this in mind several back vintages caught the bid. In particular, the top names from the best years i.e. 2005, 2003, 2000, 1996, 1990 and 1986.
(more analysis in the full report)
The table below highlights some of the price movers for the month of April. Lafite continued to dominate the leader’s board while two of the Right Banks most desirable labels, Lafleur and Ausone, played catch up with Petrus. The common denominator being a perfect 100 point score from Robert Parker. This theme continues to drive the market in May.
(analysed in detail in full report)
Below we list a selection of Robert Parker’s Bordeaux 2006 scores, from Issue 170 of The Wine Advocate (with the revised 2005 scores from the same issue). It is worth noting that Lynch Bages, Talbot, Mouton and Pichon Lalande on the left bank and Hosanna, Fleur Petrus and Vieux Chateaux Certan on the right bank have out scored their respective 2005s. (To compare Parker’s scores to those from the Wine Spectator and Jancis Robinson, see the 2006 pages on our website):
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