California prices soften

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It's obvious that the recession has crippled wine sales at the high end, at least in the United States. Americans are buying as much wine as they did a year ago, though they're spending far less per bottle, and in many cases, trading bottles for boxes.

For the first time in years, some California wineries with wines priced $50 and higher have been forced to offer discounts and other deals to wholesalers and retailers in order to move product. No US wine region is more under-the-microscope than Napa Valley, and rumours run rampant that its high-end Cabernet Sauvignons are being...