Saturday, July 25, 2009

Futures campaign 2008 - questions ?

How many bottles of 2008 were sold during Bordeaux en primeur campaign ?
If I trust the information from brokers (can we?) as well as some of the articles published, confidential or less confidential information from chateaux, the Left Bank and well-known brands faired well (as usual), Sauterne and the Right Bank not as well.
Are we seeing similar numbers as in 2002, which was a difficult year (this is not a euphemism) or better than 2007? Less wine was released because yields were lower and some properties wanted to create a sense of rarity. Only top brands succeeded.

What are top brands? I know at least one which decided not to release wine this year after having seriously thought about it. Can a top brand afford to miss a futures release (because of prices and timing)? It has happened more often than one might think.

Is it serious not to sell the entire production as futures? For me, yes, if a property makes a mistake on the price, at some point they will find new clients (if they have not done anything stupid with the price), maybe different ones, at least different from those who attend the campaign, but if the wine is good, why be worried? (except for money and market fluctuation).

In fact, French mass merchants bought less in 2008 for they bought too many 2007. Still, could they still consider selling some very good wine from the Right Bank they were offered during the en primeur campaign, often, at attractive prices and which will increase slightly for the “weaker” brands and probably increase by 10 to 15% for the best ones.
Will 2009 be easier to sell or buy?
Will 2008, even 2007, become more attractive for more available and negotiable?
Aren’t there today some better 2006/2007/2008 than some 2003/2000?
This, due to the increase in the quality of wine, the work accomplished every year in the quest for excellence;
Is it true that the financial crisis is ending? The answers will probably come from there.

In the meantime, 2008 are aging well in the barrels and anyone who doubted will be surprised by the nice evolution of many of these wines.
Should we store them and wait for better days?
The September promotions will be crucial for the French market.

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