Current Data

U.S. Cannabis Spot Index up 0.1% to $1,459 per pound.

The simple average (non-volume weighted) price increased $50 to $1,687 per pound, with 68% of transactions (one standard deviation) in the $929 to $2,445 per pound range. The average reported deal size increased to 2.0 pounds. In grams, the Spot price was $3.22 and the simple average price was $3.72.

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

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

The U.S. Spot Index rose by 0.1% this week to settle at $1,459 per pound. This week’s small increase in the national composite rate is due to an uptick in the U.S. price for indoor flower. Meanwhile, prices for outdoor flower have been trending downward to open this year. A similar trend was observed through the first quarter of 2019, after which rates for outdoor product began to rise in April, along with the U.S. Spot Index. This year, strong prices for warehouse flower have buoyed the national composite rate so far in Q1; if prices for outdoor product turn upward in the spring and summer, as they did last year, then the U.S. Spot appears poised to climb into territory not observed last year, as this week’s price is already just $5 off of 2019’s peak.

New data out of Colorado and Oregon shows that sales in December 2019 did not experience the uptick that has been observed in that month in previous years. However, year-over-year sales growth in both markets was strong in 2019. Colorado saw demand – measured in terms of total retail sales revenue – increase by about 13% from 2018 to 2019, after sales stagnated somewhat in the former year. Oregon’s market saw about a 22% year-over-year rise in sales in 2019, comparable to the rate of expansion documented in 2018. Those trends helped boost wholesale prices in both markets last year, with rates in both states holding relatively steady to begin 2020. Colorado and Oregon are the second and fourth largest legal cannabis markets in the country, respectively, in terms of retail revenue.