The Liv-ex January Market Report has been published exclusively for members on our Silver package or above. The following is an extract.
Liv-ex members on our Silver package or above can access the full report here. To upgrade your package, click here or speak to your Account Manager.
*data taken on the 11th of January 2024. The FTSE 100 was last updated on the 31st of December. The Liv-ex Fine Wine 50 is updated daily.
All major Liv-ex indices fell once again in December, concluding the year on a challenging note, with no market bottom in sight. The Liv-ex Fine Wine 100, the industry benchmark, dropped 1.1% month-on-month to close at 360.37, albeit an improvement on the previous month’s 1.3% drop and the 1.9% decline in October. The Liv-ex Fine Wine 50, which tracks the daily price movements of First Growths, fell by 1.3% in December (note: the index is updated daily).
Looking at the broader market, the Liv-ex Fine Wine 1000 also fell by 0.7% in December compared to 1.5% the month before. In contrast, major financial markets put in strong performances. The DAX rose by 0.8% month-on-month, the S&P 500 by 3.0%, the FTSE 100 by 1.8% and the Hang Seng remained flat.
The festive period, coupled with merchants taking leave, resulted in a decline for trading activity on the market in terms of both value and volume traded. However, exposure (the value of bids and offers on the exchange) nearly matched that of November, suggesting a willingness to engage. Market breadth experienced a slight decline, with 1,876 individual labels (LWIN11s) traded on Liv-ex throughout the month.
Despite challenging conditions, might releases from Burgundy and California be enough to invigorate the market?
The full report contains additional Liv-ex research and analysis:
- All of the major Liv-ex indices fell once again in December.
- One of the sub-indices of the Liv-ex 1000 recorded a positive movement: the Italy 100 rose by 0.4% month-on-month.
- Amid a month of milder declines, we highlight some of the Right Bank 50’s top performers.
- Technical analysis of the Burgundy 150 shows that the index is set to continue its downward trend.
- Even as Champagne sales fell in 2023, rare vintage Champagne remained the darling of the secondary market.
- Neil Martin’s account of Burgfest reiterates the importance of blind tasting, especially in regions like Burgundy.
- The bid:offer ratio is a measure of market sentiment and confidence. What is the current ratio in the most prominent regions on the secondary market?
Liv-ex members on our Silver package or above can access the full report here. To upgrade your package, click here or speak to your Account Manager.
