Marijuana Price Rises to $1,461 a Pound

For the week ended Friday, November 25, the spot price index for a pound of cannabis increased by 3% from $1,418 in the prior week to $1,461. According to the analysts at Cannabis Benchmarks, the simple average price for a gram increased from $3.88 to $4.00.

The futures price for the near month (December) remained unchanged at $1,525. For the month of January, the forward price also remained unchanged at $1,625 a pound. The six-month forward price (May) continued unchanged at $1,725 a pound.

About two-thirds of the past week’s transactions occurred in a range of $1,301 to $2,330 per pound .

This week the analysts commented on the nomination by President-elect Donald Trump of Senator Jeff Sessions as the next Attorney General of the United States:

The nomination of Alabama Senator Jefferson Beauregard Sessions for the position of US Attorney General (AG) by Donald Trump has sent waves of apprehension through the legal cannabis industry. New York Magazine collected numerous anti-cannabis quotes made through the years by the southern legislator, including testimony from his 1986 Senate confirmation hearings for a federal judgeship, when an African-American colleague stated that Sessions told him that he was okay with the Ku Klux Klan, “until [he] found out they smoked pot.” Additionally, the report calls attention to the confirmation hearings of current AG Loretta Lynch, in which Sessions expressed a desire that the nation’s top prosecutor enforce the federal Controlled Substances Act (CSA), under which cannabis remains illegal and classified as a Schedule I narcotic.

Indoor flower spanned from $1,190 to $3,600 per pound; the median price was $1,800.

Greenhouse flower spanned from $1,100 to $2,000 per pound; the median price was $1,600.

Outdoor flower spanned from $800 to $1,800 per pound; the median price was $1,300.

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Our price check at MJCharts.com 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 $12.23 per gram, up a penny compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.43 ranging from a high of $25 a gram to a low of $3.50. In California the average price is $15.35 per gram, ranging from $27.19 down to $5.00 per gram; in Michigan the average price is $13.88 per gram in a range of $25 to $5; in Oregon the average is $11.34 per gram in a range of $20 to $4; and in Washington the average is $10.61 per gram, ranging from a high of $17.00 to a low of $4.00.

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