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Decanter has reported today that Chateau Lafite uncharacteristically released its first tranche in the opening days of the 2011 En Primeur campaign. But the better news is that the release price was more than 40% lower than last year. Cudos to Lafite for dropping there price in a market that desperately needs it – it remains to be seen if the other first growths will also drop their prices. . .
In talking with my negociant contacts in Bordeaux today -the news has created some optimism for the campaign and most of the people I talked to are primed for a quick and clean campaign hopefully with sizeable price reductions. While the campaign normally runs until late summer – there was talk today of a campaign lasting more in the realm of a month or so.
I will keep you updated on this interesting news.
Disclosure: Rooftop will be running a futures business this year – if you would like to receive our futures offers please e-mail me at firstname.lastname@example.org.