For the week ended Friday, April 15, the spot price index for a pound of cannabis rose 1% from $1,949 in the prior week to $1,970. The simple average price for a gram also rose about 4.3% from $4.64 to $4.84.
The futures price for the near month (May) remained unchanged at $2,050. For the month of June, the forward price also remained unchanged at $2,075 a pound. The six-month forward price for October was flat at $1,850.
About two-thirds of the past week’s transactions occurred in a range of $1,605 to $2,784 per pound, according to the analysts at Cannabis Benchmarks. The analysts also commented on politics and the forward price curve:
At the end of last year, some cannabis advocates expected 2016 to be the year that numerous large states legalized cannabis for adult-use purposes and pushed the federal government for definitive action. Also, through the fall harvest season last year, we observed continually increasing demand and more widespread acceptance and normalization of the plant and its products drive consumption and prop up prices much more so than in years past. Now, with the first quarter of 2016 behind us, it appears that what some viewed as the inevitable march of legalization and expansion of markets has hit some snags, though they may yet be overcome.
Our price check at MJCharts.com indicates prices range from $25 a gram to a low of $4 in the all-cities index. The all-cities index price is $10.53 per gram, up 10 cents compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.46, ranging from a high of $12 a gram to a low of $8. In California the price is $14.33 per gram, ranging from $25 down to $6 per gram. In Michigan the average price is $15.87 per gram in a range of $20 to $10, while in Oregon the average is $10.41 per gram in a range of $21 to $4. And in Washington the average is $10.09 per gram, ranging from a high of $13.70 to a low of $6.
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
