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This is The Cut.
Rich toffee, dark fruit, a creamy finish that keeps going well past the swallow. That's what a wheated bourbon at 11 years looks like when the distillery has been making it the same way since before Pappy Van Winkle was a punchline.
I'm John from Chasing the Unicorn Podcast. Here's what we're going after today. June 13, 2026.
Here's where we want to end up. You walk out of a Louisville or Lexington retailer today with a bottle that costs $99.99 — and you don't pay $155 for it tomorrow on the secondary market because you waited.
Here's what makes it tricky. The Kentucky Bourbon Festival just dropped its full September program — four festival-only bottles at MSRP, VIP master distiller floor sessions, the centralized Release Hall. That's the headline everybody's reading this weekend. But September is three months away, and the bottle with the live close date isn't in Bardstown. It's on a Kentucky retailer shelf right now, and the walk-up window closes tonight.
Here's the move. Drive to a Heaven Hill-aligned retailer in Louisville or Lexington — Westport Whiskey & Wine and Liquor Barn are the confirmed walk-up accounts. Old Fitzgerald Bottled-in-Bond 11-Year Spring 2026 at $99.99. After tonight, secondary is running $145 to $165.
Old Fitzgerald is one of the oldest continuous wheated bourbon programs in the category. Heaven Hill has been making it on the same mash bill since the Stitzel-Weller era — that's the early postwar distillery that defined what wheated Kentucky bourbon tastes like before the allocated-bottle era turned it into a collector category. Bottled-in-Bond means federal certification: one distillery, one distilling season, minimum four years aging, 100 proof exactly. This release is 11 years. The BiB credential on a wheated mash bill at that age is uncommon — most wheated expressions are blended across seasons for consistency, not aged to a single distilling year. What you get from that single-season discipline is a finish that doesn't hedge. The wheat rounds the heat, the years build dried-fruit depth, and the 100-proof floor gives it enough structure to feel the length. Roasted almond in the middle, a finish that runs noticeably longer than the proof number suggests it should.
Old Fitzgerald BiB 11-Year Spring 2026 is the Spotlight. $99.99 today — $145 to $165 on secondary tomorrow. Westport Whiskey & Wine and Liquor Barn are the confirmed walk-up accounts in Louisville and Lexington. Rich toffee and dark fruit on the nose, creamy wheated palate, long finish with roasted almond and caramel. This is worth the chase.
Also on today's list: George Dickel Bottled-in-Bond 13-Year 2026 — TTB window cleared June 10, shelf arrival expected late June to early July. Same federal BiB credential, same 100-proof floor as the Old Fitz, seven additional years of Tennessee-climate aging for around $55. Watch for confirmation at your Tennessee-aligned retailer. And the $200-plus tier is quiet this edition — nothing new qualifies today. Full read on all three is in today's Cut Daily on our website. Free.
A word of caution on the festival calendar. The Kentucky Bourbon Festival access structure is real — four MSRP bottles in one location, master distiller floor sessions you can't get on a standard consumer tour. The O'Driscoll session at Bernheim is already below 120 tickets, and those don't come back. The rule: events with hard access floors work exactly like bottles with walk-up windows. The price of waiting isn't uncertainty — it's a number. You either pay it on the front end at MSRP, or you pay it on the back end at secondary. That math applies whether it's a bottle tonight or a September ticket next week.
Today's American Whiskey Industry Brief on Patreon opens with the Flight — New Riff Bottled-in-Bond Spring 2026 versus George Dickel BiB 13-Year nose-to-nose, with the per-year age-value math and a full side-by-side on whether seven additional years of Tennessee-climate aging changes the calculus for Father's Day gifting. And the Bar Talk covers the E.H. Taylor Old Warehouse C pre-allocation open through June 20 — whether the warehouse designation on that label is real production documentation or collector vocabulary, and what the blind tasting data actually shows.
That's The Cut. The full American Whiskey Industry Brief is at patreon.com/ChasingTheUnicornPodcast. I'm John Schuster. Thanks for joining me. Your unicorn is out there.
The Cut podcast runs Monday through Friday — catch the next episode Monday morning on Spotify and everywhere you listen at chasingtheunicornpodcast.com/episodes.
Informational and entertainment purposes only. Nothing here is investment advice. Verify before buying, trading, or bidding. We are not liable for errors or financial losses.
September's best bourbon isn't allocated. The Kentucky Bourbon Festival just released its full 2026 program — September 17 through 20 in Bardstown, four festival-only bottles at MSRP, three master distiller floor sessions, and the VIP O'Driscoll session down to fewer than 120 tickets.
The Kentucky Bourbon Festival released its complete 2026 lineup this week, and the access structure is more substantive than in recent editions — festival-exclusive bottles from six distilleries at retail prices, VIP floor sessions with the distillers who made the bottles, and a Release Hall format that consolidates the signed-bottle queue into one location. That last part matters: the congestion problem that drew complaints in 2024 has been addressed. Today's edition covers the full KBF program and what the VIP tier actually gets you, walks through the concept of planning a bourbon trail trip smartly, surfaces the Chase bottle whose walk-up window closes today at $99.99, and looks at a secondary bottle that has held its floor better than most of its tier.
The Kentucky Bourbon Festival released its full 2026 program on June 12 — the earliest complete-program announcement since 2019 — for four days in Bardstown starting September 17. General admission is live now at $65 for a single day and $195 for the full weekend. VIP Master Class weekend tickets are $375.
Here's what separates 2026 from recent editions. Six distilleries confirmed festival-only bottle releases through a centralized Release Hall: a Four Roses OESQ single barrel at 108.2 proof, Wild Turkey Forgiven 2026 festival edition, Bardstown Bourbon Company Discovery Series, and Heaven Hill Bernheim anniversary BiB. All four at MSRP, festival grounds only. The Release Hall format consolidates what was previously spread across distillery tables — meaning one queue instead of four, and a real shot at the OESQ barrel before it sells through on day one.
The VIP Master Class weekend on September 19–20 runs three evening events with current master distillers in production settings: Conor O'Driscoll at Bernheim Distillery, Eddie and Bruce Russell on the Lawrenceburg rickhouse floor, and Harlen Wheatley at Buffalo Trace's Warehouse C. These are not panel talks — they're floor sessions in the buildings where the whiskey was made. The O'Driscoll session had fewer than 120 tickets remaining at publication.
Two structural additions: the craft distillery showcase floor expanded 30% to include Texas, Colorado, and Pacific Northwest producers, and the KDA and distillery partnerships are further confirmed than in recent years.
For a newcomer to bourbon events, the full-weekend general admission at $195 gets you four days, six distillery programming sessions, access to the Release Hall, and the single strongest concentration of American whiskey production talent outside a distillery tour. For an enthusiast who has done the trail, the VIP tier adds the floor sessions that consumer visits almost never provide.
The Kentucky Bourbon Trail runs two trails most people don't realize are different: the official KDA trail with the flagship names, and the Craft Trail with smaller producers. Most first-timers do the official trail and miss the better experience.
Official trail worth the time: Buffalo Trace (free, hardest reservation — book 60 days out), Maker's Mark (prettiest grounds), Heaven Hill Heritage Center (best educational tour), Wild Turkey (Russell family access, less crowded), Woodford Reserve (polished, premium-priced).
Craft Trail standouts: Bardstown Bourbon Company, Wilderness Trail, New Riff in Cincinnati, Castle & Key at the restored Glenn's Creek site — which is, not coincidentally, where E.H. Taylor Jr. built the original Old Taylor Distillery in 1887. That last one is the most historically grounded site on either trail.
Today's AWIB illustrates why this matters. On a high-traffic Sunday like tomorrow's National Bourbon Day, Buffalo Trace runs at peak weekend capacity and the informal conversations with production staff that make a distillery visit worth the drive are essentially unavailable. Castle & Key, New Riff, and Wilderness Trail absorb National Bourbon Day traffic without losing the quality of the visit. Same trail, same day, better experience.
Practical: stay in Bardstown or Louisville — not both. No more than three distilleries per day. Book premium experiences 30–60 days out. Hire a driver if you're tasting at every stop.
What this changes: The Bourbon Trail is a real trip, not a weekend errand. Treat it that way and you'll come home with stories.
Floor erosion is how far a bottle's secondary-market price has dropped from its recorded peak. Michter's US★1 10-Year hit $310 at auction during the 2022 secondary peak — when scarcity-driven collector demand was pushing allocated bottles across the board — and realized $225 on June 12, 2026. That's a 27.4% drop from peak. What's notable is what hasn't happened: the Michter's 10-Year hasn't followed the 40-to-50% correction that has hit mid-tier allocated bottles hard. The $200–$250 floor has held stable for roughly 18 months. The reason is that this isn't scarcity-manufactured secondary support — the 91.4-proof NCF floor on the US★1 10-Year has been held to the decimal across four consecutive annual TTB filings under Master of Maturation Andrea Wilson. When production consistency is real and documented, secondary floors find structural support that pure-scarcity premiums don't.
Rickhouse Report: 5 stories · Regional Report: 3 stories
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Want the full picture? The complete American Whiskey Industry Brief — every section, every source, every story — is published free every morning at chasingtheunicornpodcast.com. Read it at chasingtheunicornpodcast.com/the-brief/.
Chasing a specific bottle? The Bourbon Release Calendar lists every lottery deadline, walk-up window and MSRP we're tracking — updated every morning.
Mentioned in this episode: E.H. Taylor, Buffalo Trace, Weller, Pappy Van Winkle, Wild Turkey, Master's Keep, Heaven Hill, Elijah Craig, Old Fitzgerald, Four Roses, Wilderness Trail, Bardstown, Michter's, Maker's Mark, Woodford Reserve, New Riff, George Dickel, BTAC