The Futures campaign started early. Unfortunately we have no allocations of Château Lafite Rothschild; instead we offer Mont Perat, La Mauriane, which we have successfully been selling for several years now and have regularly been selling out at the property as well as at our place. This encourages us to buy futures even though there is little or no appreciation or speculation.
Since the beginning of this campaign the talks have been on how low the prices will go, 10% less 20, 30 and Lafite Rothschild which was released this year at 350 instead of 500 last year, partly confirms this drop. But for what percentage of the production and what will the price be for the 2nd, 3rd, and 4th tranche and other wines?
Also discussed is Chateau Latour’s decision to leave the futures market system. I would like to defend my colleagues negociants in Bordeaux who are not those speculating and driving up prices because like everyone else knows, it is the customer who drives up prices.
If the consumer does not buy, it's over, producers and middlemen are brought back to reason: Just look at today's prices which are cooling down except for wines with 100 points Parker or the Wine Spectator!