Companies and Brands

Marijuana Price Skids 4% to $1,556 a Pound

Paul Ausick

Published: March 4, 2017 8:40 am

Last Updated: January 12, 2020 2:16 pm

For the week ended Friday, March 3, 2017, the spot price index for a pound of cannabis decreased by 3.8% from $1,618 in the prior week to $1,556. According to the analysts at Cannabis Benchmarks, the simple average price for a gram decreased from $3.93 to $3.86.

The futures price for the near month (April) remained unchanged at $1,700. For the month of May, the forward price remained unchanged at $1,750. The six-month forward price (September) slipped to $1,535 a pound.

About two-thirds of the past week’s transactions occurred in a range of $1,092 to $2,414 per pound.

This week the analysts commented further on the political uncertainties facing the cannabis industry after Attorney General Jeff Sessions’s speech to state attorneys general:

Cannabis industry participants were treated to additional doses of fear and loathing at the federal level this week, but were left ultimately with only more uncertainty as the Trump administration again faced turmoil over allegations of ties to Russia. Following White House Press Secretary Sean Spicer’s comments last week that he believed that the U.S. Department of Justice (DOJ) would engage in increased enforcement against state-legal adult-use cannabis, AG Jeff Sessions, the current head of the DOJ, made numerous comments regarding his dubiousness toward cannabis legalization in an address to state attorneys general. On the same occasion Sessions also stated, “we don’t need to be legalizing marijuana.

Indoor flower prices ranged from $899 to $5,100 per pound, with a median price of $1,800. Greenhouse flower prices ranged from $1,002 to $3,200 per pound, and the median price was $1,305. Outdoor flower prices ranged from $800 to $2,000 per pound; the median price was $1,400.

For a wide-angle look at the cannabis industry, see our report on the largest companies in the marijuana business.

Our price check at MJCharts indicates prices range from $21.00 a gram to a low of $4.00 in the all-cities index. The all-cities index price is $11.22 per gram, up two cents compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $12.04, ranging from a high of $15.00 a gram to a low of $8.00. In California the average price is $14.45 per gram, ranging from $17.00 down to $11.00 per gram, while in Michigan the average price is $15.00 per gram in a range of $20.00 to $10.00. And in Oregon the average is $11.15 per gram in a range of $21.00 to $4.00. Data for Washington state were not available again this week.