For the week ended Friday, July 15, the spot price index for a pound of cannabis decreased 9.9% from $1,886 in the prior week to $1,700. According to the analysts at Cannabis Benchmarks, the simple average price for a gram rose from $4.53 to $4.57.
The futures price for the near month (August) fell $150 to $1,890 per pound. For the month of September, the forward price fell from $2,020 to $1,870 a pound. The six-month forward price (January) fell from $1,825 in the prior week to $1,775.
About two-thirds of the past week’s transactions occurred in a range of $1,536 to $2,608 per pound. Looking at forward pricing trends, the analysts had this to say:
Forward prices have been steady or declining for 9 weeks, with no price increases since the week ending May 13th. As is typical for this time of year, outdoor cultivators have been liquidating supplies from inventory harvested last fall. … Last week saw further downward price pressure with the arrival of the season’s first light deprived harvests from greenhouses. Of the light deprived greenhouse flower anticipated to come to market through the remainder of the year, we estimate that only about 15% has been brought to market thus far (corresponding to flower grown during the period extending roughly from April 21st through June 21st), setting the stage for continued downward price pressure ahead of the larger fall outdoor harvest.
Implied forward prices are expected to reach their peak in August at $1,890 a pound (down $150 from the prior estimate) before dropping to $1,575 in November.
Our price check at MJCharts indicates prices range from $27.19 a gram to a low of $3 in the all-cities index. The all-cities index price is $12.24 per gram, down one cent compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.38, ranging from a high of $25 a gram to a low of $3.50. In California the price is $15.29 per gram, ranging from $27.19 down to $4.21 per gram, while in Michigan the average price is $14.17 per gram in a range of $25 to $5. In Oregon the average is $10.81 per gram in a range of $20 to $3, and in Washington the average is $10.64 per gram, ranging from a high of $21 to a low of $4.
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
