For the week ended Friday, December 2, the spot price index for a pound of cannabis decreased by 1.3% from $1,461 in the prior week to $1,442. According to the analysts at Cannabis Benchmarks, the simple average price for a gram decreased from $4.00 to $3.73.
The futures price for the near month (January) remained unchanged at $1,625. For the month of February, the forward price also remained unchanged at $1,650 a pound. The six-month forward price (June) entered the lists at $1,725 a pound.
About two-thirds of the past week’s transactions occurred in a range of $1,209 to $2,175 per pound.
This week the analysts commented the direction of spot prices as we close out 2016:
As sungrown inventory continues to join the regularly flowing supplies of greenhouse and indoor grown flower, forward market activity remained lighter than we have witnessed during other times of the year; still, forward arrangements represented slightly more than 4% of overall market activity this week, versus about 1% last week.
If last year’s national trends are any indication, cannabis market participants and observers can expect overall pricing to rise throughout this month in the leadup to the end-of-the-year holiday season. Last year at this time, the U.S. Spot Index settled at $1,734 per pound in the week ending December 4th, then rose roughly 15% over the course of the month to settle at $2,001 per pound in the week ending on Christmas Day. It should also be noted that rates actually spiked slightly higher in the week prior to Christmas itself, as the week ending on December 18, 2015, saw the U.S. Spot Index reach $2,041 per pound.
Indoor flower prices ranged from $898 to $3,200 per pound; the median price was $1,800.
Greenhouse flower prices ranged from $1,100 to $2,000 per pound; the median price was $1,650.
Outdoor flower prices ranged from $500 to $1,600 per pound; the median price was $1,200.
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 $12.19 per gram, down four cents compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.45, ranging from a high of $25.00 a gram to a low of $3.50. In California the average price is $15.32 per gram, ranging from $27.19 down to $5.00 per gram, while in Michigan the average price is $13.85 per gram in a range of $25.00 to $5.00. In Oregon the average is $11.24 per gram in a range of $20.00 to $4.00, 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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