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U.S. wine stocks rose Tuesday after news surfaced that China has launched an anti-dumping investigation into Australian wine exports, alleging that the country sold wine below the cost of production. Beijing is expected to report back on the allegations next August but has flagged that the deadline could be extended to February 2022.
Key Takeaways
China has launched an anti-dumping investigation into Australian wine exports that could result in tariff introductions.
Brown-Forman Corporation (BF.B) stock reached a new all-time high in Tuesday's session.
Willamette Valley Vineyards, Inc. (WVVI) stock is trading back above its 200-day simple moving average (SMA).
The move comes several months after China imposed tariffs on Australian barley and suspended a range of beef exports amid similar dumping claims. Australia, which is the world's largest wine exporter to China by value ($795 million), had vino tariffs eliminated by the country in 2019. By contrast, U.S. wine sellers are subject to a steep 93% levy that saw American wine sales slump 6.5% in 2019. An introduction of Chinese tariffs on Australian wines would, therefore, level the playing field for U.S. producers.
Below, we take a closer look at three leading U.S. winemakers and identify possible trading opportunities using technical analysis.
Constellation Brands, Inc. (STZ)
Constellation Brands produces and markets beer, wine, and spirits in the United States and internationally. Despite Chinese tariffs imposed on U.S. wines, the New York-based beverage giant inked a new distribution deal in mainland China last year for its Robert Mondavi Private Selection – a range of barrel-aged wines. As of Aug. 19, 2020, the stock has a market capitalization of $34.36 billion, offers a 1.73% dividend yield, and is trading nearly 5% lower on the year. However, the shares have added 6.18% over the past three months.
The stock appears to be carving out an inverse head and shoulders pattern – a formation that typically indicates a market bottom. Furthermore, the 50-day SMA crossed above the 200-day SMA in mid-July to generate a golden cross buy signal. Those who enter at these levels should consider setting a take-profit order near the pre-pandemic high at $205.71 but cut losses if price fails to hold above this month's low at $169.31.
An inverse head and shoulders pattern is similar to the standard head and shoulders pattern, but inverted, with the formation used to predict reversals in downtrends.
TradingView.com
Brown-Forman Corporation (BF.B)
Louisville, Kentucky-based Brown-Forman bottles and markets various alcoholic beverages, including spirits, wines, and whiskey. According to the company's annual report, both wine volumes and net sales decreased by 1% in fiscal 2020, with management citing adverse effects from the coronavirus pandemic. Meanwhile, the company estimates that Chinese and European Union (EU) retaliatory tariffs slashed its 2019 fiscal revenue by about $125 million. As of Aug. 19, 2020, Brown-Forman stock has returned 6.37% year to date and 7% since mid-May.
Since bottoming out in the mid-$40s at the height of the March selling rout, the stock has staged a remarkable recovery, setting a new all-time high in Tuesday's session. Those who want to exploit short-term momentum should consider using a 15-day SMA to book profits. To use this technique, simply remain in the position until price closes below the indicator. More conservative traders may decide to wait for a pullback to previous resistance at $69, which now acts as support.
TradingView.com
Willamette Valley Vineyards, Inc. (WVVI)
Although Oregon-based Willamette Valley Vineyards primarily focuses on the U.S. market through direct and distributor sales channels, it sits well positioned to push into the burgeoning Chinese wine market with its range of premium, super-premium, and ultra-premium products. As of Aug. 19, 2020, Willamette Valley Vineyards stock has a market value of $31.13 million and is trading nearly 11% higher over the past three months, outperforming the industry average by around 7%. Year to date, the shares have slipped 5.53%.
The stock staged a sharp recovery rally between March and early May before trading sideways for several months. More recently, price crossed back above the 200-day SMA, with an intraday dip to the indicator Tuesday met with solid buying interest. Active traders who enter here should look for a test of horizontal line resistance at $7.30 while protecting downside with a stop-loss order placed somewhere beneath yesterday's low at $6.27.
A sideways trend is the horizontal price movement that occurs when the forces of supply and demand are nearly equal.
TradingView.com.
Disclosure: The author held no positions in the securities mentioned above at the time of publication.
"wine" - Google News August 19, 2020 at 07:52PM https://ift.tt/325fGbt
US Wine Stocks Rally as China Eyes Australian Vino Tariffs - Investopedia "wine" - Google News https://ift.tt/3d98ONZ https://ift.tt/2KTSYuD Wine Aziz BloggerAugust 19, 2020AdminBandung Indonesia
kiratni.blogspot.comU.S. wine stocks rose Tuesday after news surfaced that China has launched an anti-dumping investigation into Australian wine exports,...
kiratni.blogspot.com
Gus ClemensSpecial to San Angelo Standard-Times
Published 8:43 AM EDT Aug 19, 2020
Alcohol makes wine wine. Take away yeast converting sugar into alcohol, you have grape juice. Nothing wrong with grape juice, but no sage asserts “in grape juice there is truth.”
Still, alcohol levels in wine engender controversy. As in religion and politics, the big brouhaha rages over small differences.
What is proper amount of alcohol? Does an alcohol by volume (ABV) score of 15.5% make for a perfect pour, or for shameful excess? Gastronomes assert ABV of 12% is ideal for food pairing. Others whine that’s “wimp wine”.
To add to the debate, ABV numbers on the label — precise to a tenth of a percent — are only guesses. If the label lists ABV of 14% or lower, winery only has to be accurate within 1.5% as long as it does not exceed 14%. So etherial 12.5% pinot noir legally could be 14%. Or it could be 11%
When score is more than 14% ABV, the allowed margin for error is 1%. That means a 15.5% ABV Napa cab — a common number — could be a shocking, outrageous 16.5%. Or an almost admirable 14.5%.
The proof of the proof is not on the label. It is in the mouth, especially on the finish, where “hot” exposes itself.
Of course, wine being wine, it is not that simple. Rich ripe grapes — which boost alcohol — can mask alcohol with their smarmy phenolic illusion of sweetness. You can have a high alcohol wine that tastes less alcoholic than a lower alcohol wine.
Pretty much across the board, wine has higher alcohol today. Two reasons. The market did its part: as wine became a “cocktail hour” drink, buzz factor became more important. Nature did its part: climate change means virtually every vineyard is warmer, warmer means more ripeness, riper grapes mean more sugar, more sugar means higher alcohol.
Bottom line: lower alcohol wines are better with food, higher alcohol wines fit zeitgeist. Expounders from both camps can argue away, hopefully over glasses of their particular favorite. Peace, fellow wine drinkers. Peace.
"wine" - Google News August 19, 2020 at 07:44PM https://ift.tt/3gdofGb
Wine lovers wrestle over alcohol content - Standard-Times "wine" - Google News https://ift.tt/3d98ONZ https://ift.tt/2KTSYuD Wine Aziz BloggerAugust 19, 2020AdminBandung Indonesia
kiratni.blogspot.comGus Clemens Special to San Angelo Standard-TimesPublished 8:43 AM EDT Aug 19, 2020Alcohol makes wine wine. Take away yeast converting...
It's that time again to answer some of your questions about the world of wine. I think the last couple of months have given readers more time for questions. As I say each time you reach out to me, I enjoy your questions so keep them coming. They always provoke interesting column ideas and information.
We recently had a wine that had a strong roasted sugar smell. We have had the brand before, and it was not this aroma. Any thoughts?
My first thought would be a red flag of the roasted sugar smell. Many wines ruined by exposure to too much heat can have this aroma. It can also smell similar to a wine reduction sauce. One telltale sign a bottle has been exposed to too much heat is the cork seal. Heat can compromise the seal causing the cork to push up.
Do European wines have sulfites?
Yes. All wine contains some sulfites. They are a natural byproduct of the winemaking process. Sulfur dioxide (SO2) is a chemical compound made of sulfur and oxygen. It occurs naturally but can be produced in a lab. It's used to preserve foods and beverages. It has been used for thousands of years in winemaking. The reason most consumers think European wines are sulfite free is they are not listed on wine labels. The U.S. requires a sulfite warning "Contains Sulfites."
We are taking a very old bottle from our cellar to a friend's home for dinner and will be decanting. Is it true I should handle older wine bottles different than younger ones?
Older wines are fragile. Many will have sediments inside the bottle that will be "stirred" in movement. I would recommend taking the bottle to the dinner party location several days prior to the dinner to allow the bottle to rest so the clear wine separates from the sediment. Be sure to stand the wine up to allow the sediment to settle.
Is it strange I enjoy my red wines slightly chilled?
Absolutely not. Many red wines are served warmer than the ideal temperature for red wines. We hear the term "room temperature" for the way red wines should be served but I think people forget room temperature refers to cellar temperature of 60 to 66 degrees.
What's the difference between Sancerre and sauvignon blanc?
Sauvignon blanc is a white grape, while Sancerre is the name of the wine region in France's Loire Valley. All white Sancerre wine is made from sauvignon blanc grapes, but sauvignon blanc will differ broadly depending on a region's climate, vineyard practices and winemaker's expression.
If a wine label says "Cabernet Sauvignon" can it have other grapes?
Each region has laws pertaining to labeling. In the United States, a wine labeled Cabernet Sauvignon must have at least 75% of this grape. In the European Union and Australia, the minimum is 85%.
Several readers have asked about "orange wines" — a topic worthy of its own column, which is coming soon.
Lorri Hambuchen is a member of London's Institute of Wines and Spirits. Email:
"wine" - Google News August 19, 2020 at 02:19PM https://ift.tt/34fhEbY
UNCORKED: Some answers to readers' wine-related questions - Northwest Arkansas Democrat-Gazette "wine" - Google News https://ift.tt/3d98ONZ https://ift.tt/2KTSYuD Wine Aziz BloggerAugust 19, 2020AdminBandung Indonesia
kiratni.blogspot.comIt's that time again to answer some of your questions about the world of wine. I think the last couple of months have given readers...
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