The U.S. Cannabis Spot Index decreased 1.5% to $982 per pound.
In grams, the Spot price was $2.17.
The U.S. Spot Index decreased 1.5% to $982 per pound. Despite a larger percentage increase in higher priced indoor flower than the combined price declines in lower priced greenhouse and outdoor sungrown flower, the U.S. Spot Index declined due to a 3% increase in the weight of outdoor flower contributing to the index. The weight of greenhouse flower in the Index was nominally unchanged, while the proportion from indoor flower transactions declined more than 2%. Additionally, the average deal size for greenhouse and outdoor flower increased 6.9% and 0.7%, respectively, while the average lot size for indoor flower decreased a modest 1.3%.
The Alaska Cannabis Spot Index was the biggest mover this week climbing 12.3% per pound. Indoor grown flower prices were the main driver, with bulk transactions having the greatest impact. Despite the increase in the state price assessment this week, the August average price is still $69 less than the July average.
An 8.0% decrease in the New Mexico Cannabis Spot Index was observed this week. The overall decline was predominantly the result of a 6.7% decline in indoor grown flower pricing. Despite bulk transactions for indoor flower experiencing higher prices this week, the price for prepackaged indoor flower nullified those gains. Outdoor grown flower in New Mexico also saw a decline this week, losing 5.8% per pound.
Despite an increase of 1.5% by the Oklahoma Cannabis Spot Index, prices remain depressed, with the August average price down 11.4% from the July average. Transactions of low priced greenhouse grown flower continue to dictate the strength of the state composite price.
September 2024 Implied Forward Unchanged at $1,000 per pound.
At $1,000 per pound, the September Implied Forward represents a premium of 1.8% relative to the current U.S. Spot Price of $982 per pound.
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