Talking Trade – Bordeaux trade share hits new record low

• Bordeaux weekly trade share falls to new 2018 low
• Maison Leroy, Chambertin 2007 most active wine
• First Growth: Second Wine ratio at a record low

Although the composition of trade has shifted this week, market activity has stayed flat, even as the traditional summer holiday season commenced in Europe.

In the past seven days, Bordeaux’s weekly trade share dropped to a new record low for 2018 of 43.5%. The region has averaged a market share of just over 60% in 2018, down from 67% in 2017 and 73% in 2016.

Instead, traders have had their eyes on high value parcels of DRC and Ponsot, which moved through the market to lift Burgundy’s share to a two-month high of 24.8%.

Coinciding with thinner First Growth trading, the Liv-ex 50 closed Thursday at 358.42, down 0.02% on the previous week.

Maison Leroy, Chambertin 2007 was this week’s most active wine. Other wines trading well include the recently released Ornellaia 2015.

Opus One, 2010 helped to raise the US’s trade share to 7.8%. Recently Liv-ex profiled the top-traded US wines in 2018.

Closing the gap

At its highest point back in July 2007 it was possible, on average, to buy 6.6 bottles of second wine for every bottle of Grand Vin. In the intervening time period this ratio has more than halved to 2.7 bottles – a record low for the First Growth: Second Wine ratio.

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