Current Data

U.S. Cannabis Spot Index down 2.1% to $1,359 per pound.

The simple average (non-volume weighted) price decreased $32 to $1,556 per pound, with 68% of transactions (one standard deviation) in the $820 to $2,293 per pound range. The average reported deal size decreased to 2.1 pounds. In grams, the Spot price was $3.00 and the simple average price was $3.43.

The relative frequency of trades for outdoor flower increased by almost 2% this week. The relative frequency of deals for greenhouse product decreased by the same proportion, while that for transactions for indoor flower was unchanged. 

Outdoor flower’s share of the total reported weight moved expanded by almost 2% this week. The relative volume of greenhouse product contracted by the same proportion, while that for warehouse flower was unchanged.

The U.S. Spot Index declined by 2.1% this week to settle at $1,359 per pound. In the weeks since the COVID-19 pandemic has gripped the U.S. in earnest, the national composite price for cannabis flower in legal markets has been relatively stable. From the week ending March 20 through this week, the U.S. Spot has ranged between a low of $1,357 and a high of $1,388 per pound, while averaging $1,370 per pound during the four-week period. 


That price is down compared to the average national composite price of $1,415 per pound observed from the opening of this year through the week ending March 13. However, the U.S. Spot was already trending downward prior to the drastic measures taken by federal, state, and local officials in response to COVID-19, after peaking at $1,459 per pound in the week ending February 14. Based on input from market participants and our own analysis, we expect the negative trend to be exacerbated by the pandemic and have in prior weeks adjusted Forward prices downward. 


On the state level, the chart above shows that only Washington has seen wholesale flower prices climb since late March. The other three of the Big Four markets – California, Colorado, and Oregon – have seen rates slide downward gradually, continuing previously existing trends. While reports indicate that sales are suffering in numerous markets, it is likely that Nevada will be disproportionately affected, as a significant portion of the state’s sales are to tourists visiting Las Vegas, a consumer base that is now completely absent.