Trade maintained its vigour this week, as buyers took advantage of well-priced offers hitting the market. Not necessarily a sign of great confidence – the question of potentially new US tariffs still weighing heavily on sentiment – but the Liv-ex 50 did nudge marginally higher. Sterling’s weakness following a benign inflation report, certainly a contributing factor.
Burgundy (25.1%), Italy (17.1%), and the USA (8.5%) all increased their share of trade, as Bordeaux (40.8%) relinquished its. Trade in Burgundy usually increases in January, as the latest vintage is presented to the market. The 2018 tastings were in full flow this week.
The USA’s share was largely made up of Napa Cabernet, particularly the 2014 and 2016 vintages. Italy’s share also rose, with all five Super Tuscans in the Italy 100 sub-index finding the bid.
The latest available vintage of Giacomo Conterno Barolo Riserva Monfortino 2013 was the most active by value this week. Only made during the best years and aged for seven years in bottle, the 2013 vintage compares very favourably in price to the similarly scored 2010.
Angelus 2012, with its commemorative label, saw decent volume trade, as did several other 2012 Bordeaux – l’Evangile, Smith Haut Lafitte and Canon to name a few. Released at relatively good prices and entering its drinking window, the 2012 vintage seems to offer something for both buyers and sellers.
The Best of the Rest – Liv-ex 2019 Power 100
While the Top 10 wines of the Power 100 are always in sharp focus, names featured lower down the rankings often point to an emerging story. There are plenty of new entries, from less famous regions and non-familiar names, qualifying for the fist time. Perhaps one day wines from the best of the rest might simply become……the best.
2019: Merchant predictions vs. reality
Things rarely go to plan. That was the case with merchant predictions for 2019. Back in January 2019, Liv-ex members were asked to predict the indices changes and regional performance for the year ahead. Most proved to be too bullish, but then who could predict the headwinds of 2019?