Marijuana Price Slips 3.2% to $1,685 per Pound

Companies and Brands

Published: August 20, 2016 9:20 am

Last Updated: January 13, 2020 4:26 am

For the week ended Friday, August 12, the spot price index for a pound of cannabis decreased 3.2%, from $1,742 in the prior week to $1,685. According to the analysts at Cannabis Benchmarks, the simple average price for a gram also dropped, from $4.33 to $4.24.

The futures price for the near month (September) remained unchanged at $1,625 per pound. For the month of October, the forward price came in at $1,550 a pound. The six-month forward price (February) was $1,750.

About two-thirds of the past week’s transactions occurred in a range of $1,414 to $2,430 per pound.

Looking at prices in the futures market, the analysts had this say:

Forward market participants reported a variety of forward transactions that, in aggregate, did not change the Forward price curve. The market appears to have incorporated the reality that prices for old product will likely skew lower for a few more weeks, as sellers are eager to liquidate, and buyers are already looking forward to a rush of new supply, which will also be low priced but more appealing than supplies left over from last year.

Implied forward prices are now expected to reach their six-month peak in February at $1,750 a pound. The six-month low is expected to be $1,525 in November.

Our price check at MJCharts indicates prices range from $27.19 a gram to a low of $3.50 in the all-cities index. The all-cities index price is $12.34 per gram, down two cents compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.41, ranging from a high of $25.00 a gram to a low of $3.50. In California the price is $15.17 per gram, ranging from $27.19 down to $5.00 per gram, while in Michigan the average price is $14.04 per gram in a range of $25.00 to $5.00. In Oregon the average is $11.07 per gram in a range of $20.00 to $4.00, and in Washington the average is $10.60 per gram, ranging from a high of $21.00 to a low of $4.00.

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