For the week ended Friday, September 2, the spot price index for a pound of cannabis increased 1% from $1,637 in the prior week to $1,653. According to the analysts at Cannabis Benchmarks, the simple average price for a gram dipped from $4.38 to $4.19.
The futures price for the near month (October) was unchanged at $1,525 per pound. For the month of November, the forward price remained at $1,500 a pound. The six-month forward price (March) also remained unchanged at $1,750.
About two-thirds of the past week’s transactions occurred in a range of $1,392 to $2,411 per pound.
Looking at conditions in the futures market, the analysts had this say:
As we have noted over the past few months, large volumes of outdoor and light-deprived greenhouse grown flower began flooding western markets in the summer. Average deal sizes for outdoor and greenhouse flower increased to 41 and 21 pounds, respectively; and volume weighted prices began to decline. During this post-peak period, simple average prices also began declining, but not as rapidly as the volume weighted averages. The result is that the spread has been trending up. This indicates that buyers of smaller lots are benefiting from declining prices, but not as much as buyers of larger lots.
Implied forward prices are now expected to reach their six-month peak in March at $1,750 a pound. The six-month low is expected to be $1,500 in November.
Our price check at MJCharts indicates prices range from $27.19 a gram to a low of $3.00 in the all-cities index. The all-cities index price is $12.37 per gram, down a penny 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 $3.50. In California the price is $15.06 per gram, ranging from $27.19 down to $5 per gram, while in Michigan the average price is $14.01 per gram in a range of $25 to $3. In Oregon the average is $11.14 per gram in a range of $20 to $4, and in Washington the average is $10.59 per gram, ranging from a high of $21 to a low of $4.
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