Why the Australian Vintage (ASX:AVG) share price is seesawing

The Australian Vintage Limited (ASX: AVG) share price jumped 3% higher before paring back those gains after a trading update from the Aussie winemaker.

Why is the Australian Vintage share price on the move?

This afternoon’s vintage and trading update has been the big factor behind today’s movements. Australian Vintage reported 116,600 tonnes of grapes were crushed in Vintage 2021, up 15% from last year’s 101,400 tonnes.

CEO Craig Garvin said, “This year’s improved total crush of 116,000 tonnes is very pleasing with favourable seasonal conditions contributing to a very high quality and improved yielding vintage”.

Grape yields from…