- Weekly trade hits two-month high
- Bordeaux trade share drops to 50.6%
- Petrus 2009 most active wine
- Bordeaux 500 bid:offer ratio hovering around 0.5
Aided by sterling hitting yearly lows against the dollar, and sliding against the euro, weekly trade on the exchange lifted to a two-month high. Despite more benign trading conditions for non-sterling buyers, Bordeaux’s market share dropped to 50.6%, even with the region’s white wines having their most active week of the year.
Instead, traders had their eyes on other regions, such as the USA, which also had its most active week of the year. Heavy trading of Opus One 2014 helped to lift America’s weekly market share to 11.7%.
Coinciding with sterling weakness, the Liv-ex 50 closed Thursday at 358.27, up 0.1% on the previous week.
Petrus 2009 was the most active wine by value this week. The last trade price of £34,300 per 12×75 represents a 14.3% increase from the start of the year. In sluggish market conditions, Petrus has been one of the few brands to perform well. This will be explored in a blog post in the coming days.
Bordeaux 500 market sentiment
In a Market Update on Thursday, Liv-ex considered what the falling bid:offer ratio within the Bordeaux 500 could mean for the index’s future performance. The value of bids is currently half the value of offers. This is not a great sign for sentiment. Historically the market has turned at this point, as sellers have been forced to adjust their prices to reflect the more limited buying interest.
