|Tom Cannavan's wine-pages.com|
Liv-Ex Market Report
by Liv-ex.com, November 2007
October mirrored September in all but name. The continuing uncertainties in global markets flushed out more sellers. Volumes were strong leading to an 88% increase year on year. The Liv-ex 100 set its third straight down month with a decline of 1% reducing the 12-month gain to 45.5% (see www.liv-ex.com for details or find the Liv-ex 100 on Bloomberg: see index code LIVX100). The index is up 39.7% year to date.
As in September a high percentage of trade was concentrated in the top labels. The vintages that accounted for most of the Bordeaux volume by value were 2006, 1998 and 1996- the latter two being dominated by First Growth parcels. The 2006 activity was given a boost by investment buyers of Lafite in particular, sensing perhaps that in the low £3000s it looks relatively good value against other vintages.
(more analysis in the full report)
The table below highlights some of the bigger price moves for the month of October. It is interesting to note that some of the great wines of recent vintages struggled this month with sellers taking profits on these stellar (and still relatively abundant) wines. The gainers by contrast were dominated by older vintages that are likely to be consumed with turkey this year.
(analysed in detail in full report)
Rhone 2005/2006 The Wine Advocate
In Issue 173 of The Wine Advocate, Robert Parker (www.erobertparker.com) discusses the relative merits of the 2005 and 2006 vintages in the southern half of the Rhone valley. With the exception of 2002, the Rhone has enjoyed an enviable series of strong vintages stretching back to 1998. Would these two vintages continue the run that the Rhone is enjoying? Throughout Europe, 2005 produced some superlative wines, particularly in Bordeaux, Burgundy, the Loire and Germany. Demand for the top wines continues to be high and it would seem that the same will be true of the southern Rhone. Parker observes "there are some truly profound wines in this year, and the best of them have produced concentrated powerful, masculine-styled wines, a few of them modern-day clones of 1978." [a reference point for Chateauneuf du Pape]. He does however sound a word of caution. 2005 is not a golden vintage from top to bottom. "[There are] some pretty harsh tannins in some cuvées combined with relatively higher than normal acids. Nevertheless, where chosen carefully, some great wines have been produced."
(more analysis in full report)
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