Thursday, October 13, 2022

Dan Berger: Wine Prices and the Euro

       In the last 25 years, imported wine has become fascinating for many American wine lovers.

        Starting about 2003, we began buying more imported wines than in any prior year, and one reason was that millennial wine lovers, who were just reaching the legal drinking age, fell in love with the diversity we began to see in reasonably priced wines from Europe.

        European wine reached such a strong position in the U.S. market in 2003 that it represented one bottle in every four sold here. A reason for that was that several wine-making nations took huge steps to appeal directly to the American wine consumer.

        Spain, France and Italy have long sold lots of fairly priced wines here.

        Imports continue to command attention in spite of the fact that the euro traded for much of the last decade at close to US$1.25. This meant that we were paying more for European wines than we had in the late 1990s. 

        Now, however, anyone paying close attention to the currency markets knows that the euro has, in the last few months, taken a major nosedive. 

        With the U.S. dollar and the euro now approximately dead even in trading value, prices for European wines here may begin to soften and even drop a bit. You may think this will lead to a lot of wine bargains, but it won't be particularly visible in wines selling for less than about $20 per bottle.

        Almost regardless of currency fluctuations, inexpensive wines rarely make a lot of money, partially as a result of fixed costs including marketing, shipping and warehousing. And large producers usually take orders for large amounts of wine on contracts, and those contracts could represent many more months before they expire.

        Currency traders now say that they expect the euro to decline even further. (A few days ago, the euro was 99 U.S. cents.) One currency trader told me last week that he anticipates the euro will bottom out somewhere around $.80 to the U.S. dollar.

        If so, this would be roughly 40% less than it has been for years. So, is there a way to take advantage of the weak euro?

        Yes, and it's called the wine futures market. But it is tricky. Buying wine futures is a game that requires serious homework as well as a broad knowledge of what you're doing. But it can pay dividends. Here's a brief look at how it works.

        Say you love German riesling and prefer the wines of one producer (say Fritz Haag). For the last four years or so, quality German rieslings have risen in price by about 30%, so in-demand many of them are. Fritz Haag's 2021 Trocken (dry) riesling has a national average Suggested Retail Price (SRP) of about $23 a bottle.

        Several stores around the country offer futures on various wines, usually expensive Bordeaux red wines. But I have bought futures on German rieslings and usually save about 30% to 40% over the SRP. In the case of the above wine, a year ago that means paying around $15 for it. Either a partial or full payment must be paid upfront, which means working with reliable stores.

        But at today's dollar/euro ratio, I'd expect the 2022 Fritz Haag Trocken to be offered on futures at, say, $12. Or roughly half of what the 2021 now sells for.

        In 2003, I bought futures on several German rieslings from the 2001 and 2002 vintages, from some excellent producers, paying (in advance) a significantly lower price. Yes, it took months for the wines to be delivered. But by the time they arrived, demand for them had risen so much that prices jumped nearly 50% when they hit store shelves.

        Wine of the Week: 2021 Fritz Haag Riesling, Mosel, Trocken ($23) -- The very stylish aromas of this wine include citrus, peach, pear and delicate tropical fruit with kiwi and rose petals. It's dry but not austere and will be better in two years.

        To find out more about Sonoma County resident Dan Berger and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate webpage at www.creators.com

COPYRIGHT 2022 CREATORS.COM


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Trollfest '09

Trollfest '07 was such a success that Jackson Jambalaya will once again host Trollfest '09. Catch this great event which will leave NE Jackson & Fondren in flames. Othor Cain and his band, The Black Power Structure headline the night while Sonjay Poontang returns for an encore performance. Former Frank Melton bodyguard Marcus Wright makes his premier appearance at Trollfest singing "I'm a Sweet Transvestite" from "The Rocky Horror Picture Show." Kamikaze will sing his new hit, “How I sold out to da Man.” Robbie Bell again performs: “Mamas, don't let your babies grow up to be Bells” and “Any friend of Ed Peters is a friend of mine”. After the show, Ms. Bell will autograph copies of her mug shot photos. In a salute to “Dancing with the Stars”, Ms. Bell and Hinds County District Attorney Robert Smith will dance the Wango Tango.

Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).


Meet KIM Waaaaaade at the Entergy Tent. For five pesos, Kim will sell you a chance to win a deed to a crack house on Ridgeway Street stuffed in the Howard Industries pinata. Don't worry if the pinata is beaten to shreds, as Mr. Wade has Jose, Emmanuel, and Carlos, all illegal immigrants, available as replacements for the it. Upon leaving the Entergy tent, fig leaves will be available in case Entergy literally takes everything you have as part of its Trollfest ticket price adjustment charge.

Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".

In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.


In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.

Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.

Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!

This is definitely a Beaver production.


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Trollfest '07

Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.

There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

Note: Security provided by INS
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