The U.S. Cannabis Spot Index increased 1.2% to $967 per pound.
The simple average (non-volume weighted) price increased $15 to $1,273 per pound, with 68% of transactions (one standard deviation) in the $506 to $2,039 per pound range. The average reported deal size decreased to 2.6 pounds. In grams, the Spot price was $2.13 and the simple average price was $2.81.
The relative frequencies of transactions for indoor and greenhouse flower were both virtually unchanged this week. Outdoor flower transaction frequency fell about 1%.
The relative volume of indoor product was unchanged, while that of greenhouse product rose 1%. Outdoor product’s relative volume decreased by about 2%.
January 2023 Implied Forward assessment unchanged to close at $960 per pound.
The average reported forward deal size was 77 pounds. The proportions of forward deals for outdoor, greenhouse, and indoor-grown flower were 46%, 41%, and 14% of forward arrangements, respectively.
The average forward deal sizes for monthly delivery for outdoor, greenhouse, and indoor-grown flower were 90 pounds, 69 pounds, and 58 pounds, respectively.
At $960 per pound, the January 2023 Implied Forward represents a discount of 0.7% relative to the current U.S. Spot Price of $967 per pound. The premium or discount for each Forward price, relative to the U.S. Spot Index, is illustrated in the table below.