For the week ended Friday, June 10, the spot price index for a pound of cannabis decreased 3% from $2,086 in the prior week to $2,023. The simple average price for a gram rose from $4.68 to $4.90.
The futures price for the near month (July) dropped $15 to $2,135 per pound. For the month of August, the forward price remained unchanged at $2,200 a pound. The six-month forward price for December also remained steady at $1,725.
About two-thirds of the past week’s transactions occurred in a range of $1,654 to $2,794 per pound, according to the analysts at Cannabis Benchmarks. Looking at forward pricing trends, the analysts had this to say:
Expectations for price increases through the end of June and into the summer continue, however the July Forward is off $15 as market participants react to recent price stability. At $2,135 per pound, the July Forward represents a premium of 5.5% to the current Spot Price of $2,023 per pound. … For the first two weeks of June, the average Spot Price was $2,054, which is $71 below the June Forward expiration price of $2,125 per pound.
Implied forward prices are expected to reach their peak in August at $2,200 a pound before dropping to $1,650 in November.
Our price check at MJCharts.com indicates prices range from $25 a gram to a low of $2 in the all-cities index. The all-cities index price is $12.26 per gram, up three cents compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.42 ranging from a high of $25 a gram to a low of $2. In California the price is $15.32 per gram, ranging from $25 down to $5 per gram, while in Michigan the average price is $14.11 per gram in a range of $25 to $5. In Oregon the average is $10.78 per gram in a range of $25 to $2, and in Washington the average is $10.72 per gram, ranging from a high of $21 to a low of $4.55.
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