Roast the veal bones in a single layer on a sheet pan at 275 degrees for 2 1/2 hours until well browned. Mix the tomato paste with some water and "paint" this mixture onto the bones. Return the bones to oven and continue roasting until well browned. Place the celery, onions, and carrots on a second sheet pan and roast them until very well browned. When the bones are done roasting, carefully pour off the excess fat. In a large stock pot, combine the cold water, chicken stock, roasted vegetables, bones, thyme and bay leaf. Bring the pot to a rolling boil, then immediately lower to a slow simmer. Simmer this for no less than 6 hours. In a large mesh strainer, place the cracked black pepper and strain the stock over the pepper. Then strain it again through a fine mesh strainer.
Heat the resulting 18 cups of veal stock over medium heat. Add merlot, and simmer, skimming the stock continuously, until liquid is reduced by half. Strain one more time through a fine mesh strainer. Refrigerate.
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