For the week ended Friday, October 16, the spot price index for a pound of cannabis increased by $25 (1.4%), from $1,816 in the prior week to $1,841. The simple (non-volume weighted) average price for a gram was $4.40.

The futures price for both November and December 2015 remained unchanged at $1,540. For the month of January 2016, the forward price remained at $1,550 a pound. The six-month forward price for April 2016 is $1,850 a pound.

About two-thirds of the past week’s transactions occurred in a range of $1,534 to $2,462 per pound, according to the analysts at Cannabis Benchmarks.

The volume-weighted average price in Colorado fell 11%, from $2,152 on October 9 to $1,910 a pound last week. The state’s cannabis market sold more than $100 million worth of products in the month of August, the highest total since recreational sales became legal. Of the total, recreational sales contribute about 60% and medical sales about 40%. The total includes 2.9% sales tax and an excise tax of 10% on recreational sales.

The volume-weighted average price in California last week was $1,552 per pound, up 1% compared with a price of $1,537 in the previous week.

According to Cannabis Benchmarks, the volume-weighted average price of cannabis in Oregon fell 1.5% last week, from $1,926 to $1,898 a pound. In Washington prices fell 9%, from $1,689 a pound to $1,534.

In the futures market, Cannabis Benchmarks noted:

The number of forward deals reported this week was down significantly, representing just 40% of last week’s volume. Excluding outliers and bid-ask prices, the Forward Curve is unchanged. … Earlier this year, it appeared that the continued, intensive proliferation of cultivation, especially outdoor and greenhouse operations, would drive the national price point down to heretofore unseen lows in the latter months of 2015 and into 2016. However, growing demand and the opening of new legal markets has ensured that increasing numbers of cultivators remain easily able to find buyers for their product.

Our price check at MJCharts.com indicates prices range from nearly $25 a gram to a low of $3 in the all-cities index. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.02, ranging from a high of $20 a gram to a low of $5. In California the price is $15.04 per gram, ranging from $25 down to $3 per gram; in Michigan the average is $15.47 per gram in a range of $22 to $5; in Oregon the average is $10.76 per gram in a range of $20 to $5; and in Washington the average is $10.32 per gram, ranging from a high of $15 to a low of $6.

ALSO READ: America’s Most and Least Educated States: A Survey of All 50

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.