The U.S. Cannabis Spot Index increased 0.7% to $990 per pound.
In grams, the Spot price was $2.18.
The U.S. Spot Index increased 0.7% to $990 per pound. The increase was driven by a 7.7% increase in lower priced outdoor flower, principally from increases in California, Washington and Colorado. The impact of the increase was muted by smaller percentage delines of higher priced greenhouse and indoor grown flower. A 2% increase in the weight of indoor flower contributing to the index also blunted the increase. The weight of greenhouse flower in the Index was nominally unchanged, while the proportion from outdoor flower transactions declined 2%.
The Arizona Cannabis Spot Index gained 5.6% per pound this week. A reduction in the volume of greenhouse grown flower transacted in the lower price quartile was the main driver in the climbing state composite price. The August average for the state is down 4.2% compared to the July average.
All grow types in Oregon suffered declining prices in the final week of August, pushing the state composite price down 4.0% per pound. The August average wholesale volume weighted average was down 2.2% compared to July. Indoor pricing had the largest loss this week, shedding 9.4% per pound.
Pennsylvania wholesale cannabis prices had a strong August. Despite a week-to-week decline of 1.3%, the August average price is up 10.2% compared to the average July price.
September 2024 Implied Forward Unchanged to Close at $1,000 per pound.
At $1,000 per pound, the September Implied Forward represents a premium of 1.0% relative to the current U.S. Spot Price of $990 per pound.
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