The U.S. Cannabis Spot Index decreased 1.2% to $1,008 per pound.
In grams, the Spot price was $2.22.
The U.S. Spot Price Index is down 6.4% from the beginning of the year, averaging $1,025 per pound. The current year-to-date average is up $46 from the same time last year.
At the state level, Oklahoma wholesale cannabis prices continue to decline, with greenhouse grown product continuing to push the state weighted average down. The April state composite price has is down 15% compared to the March average.
Massachusetts greenhouse grown flower is also continuing to exert a larger influence on the state composite price as more mixed light products enter the supply chain and retailers capitalize on lower prices and ample supply.
May 2024 Implied Forward assessed down $10 to $1,040 per pound.
At $1,040 per pound, the May Implied Forward represents a premium of 3.2% relative to the current U.S. Spot Price of $1,008 per pound.
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