Companies and Brands
Marijuana Price Slips 3.2% to $1,685 per Pound
Published:
Last Updated:
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.
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
