|Tom Cannavan's wine-pages.com|
Below is just a brief extract from the latest Market Report. An extract will be offered on wine-pages as soon as it is published each month, but for the full report and Liv-Ex's extensive services, sign-up with them at www.liv-ex.com
Liv-Ex Market Report
by Liv-ex.com, August 2004
Activity in August was unusually brisk given that most merchants and their clients take the month off to holiday. Trade was down 9.2% on July, but up 83% year on year. Indeed August has proved to be the third most active month of the year. The Liv-ex 100 composite fell 0.4% for the month while stock held by the UK's leading stockholders dropped by 3.1%.
(more analysis by region in the full report)
Major Movers for August
The table below shows the major movers for August. While top wines from older vintages topped the gainers, the hangover from the Bordeaux 2003 frenzy accounted for all of the major fallers.
(featured wines analysed in detail in full report)
As highlighted on Jancis Robinson's Purple Pages, Robert Parker makes twelve predictions in this month's issue of Food and Wine magazine about the wine industry ten years hence.
"Americans may scream bloody murder when looking at the future prices for the 2003 first growth Bordeaux (an average of $4,000 (£2,300) a case), but if my instincts are correct, 10 years from now a great vintage of these first growths will cost over $10,000 a case...at the minimum. It is simple: The quantity of these great wines is finite, and the demand for them will become at least 10 times greater". Robert Parker in Food & Wine Magazine September 2004.
It is comments such as these that have driven young wines to unprecedented levels in recent en primeur campaigns and created a gaping pricing anomaly for the best claret. Indeed, why is it that normally rational and considered human beings seem to lose their marbles when buying young wines? We have talked about this on several occasions in the past, but it is surely the key issue for any serious investor in Claret.
(detailed analysis using various wines and comparative tables in full report)
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