CANNABIS BENCHMARKS WEEKLY REPORT -- PUBLISHED FEBRUARY 23, 2018
U.S. Cannabis Spot Index up 1.5% to $1,292 per pound.
The simple average (non-volume weighted) price decreased by $23 to $1,411 per pound, with 68% of transactions (one standard deviation) in the $702 to $2,121 per pound range. The average deal size decreased 10.3% to 9 pounds from 10.1 pounds last week. In grams, the Spot price was $2.85, and the simple average price was $3.11.
Warehouse flower’s share of the total observed weight moved increased this week, by 2%, with that of greenhouse product also expanding by the same proportion. Consequently, outdoor flower saw a 4% decline in its relative volume. The relative frequency of trades for indoor product grew by over 4% week-over-week, resulting in a corresponding decline in that metric for greenhouse flower, as the relative frequency of transactions involving outdoor product held steady compared to last week.
An increase in the national volume-weighted average price for warehouse product, as well as an expansion in the relative volumes of indoor and greenhouse flower, were responsible for pushing up the U.S. Spot Index modestly for the second consecutive week. Average deal sizes were generally down this week, with that for outdoor-grown product shrinking sharply. This despite large average transaction volumes for such product in California and Washington State.
Elevated rates for flower designated for sale to general consumers in California helped push up the national rate for such product by a greater proportion than medical flower’s this week. The average price in Colorado’s recreational sector exceeded that in its medical market for the first time in recent weeks.
March Forward unchanged at $1,375 per pound.
The average forward deal remained 56 pounds. The proportion of forward deals for outdoor, greenhouse, and indoor-grown flower represented 46%, 30%, and 24% of forward arrangements, respectively. The average forward deal size for monthly delivery for outdoor, greenhouse, and indoor-grown flower was 69 pounds, 60 pounds, and 28 pounds, respectively.
At $1,375 per pound, the March Forward represents a premium of 6.4% relative to the current U.S. Spot Price of $1,292. The premium or discount for each Forward price, relative to the U.S. Spot Index, is illustrated in the table below.
Sample headlines from this week's Premium Report:
23 February 2018. Copyright © 2017 New Leaf Data Services, LLC. All rights reserved