The U.S. Cannabis Spot Index increased 0.4% to $1,016 per pound.
In grams, the Spot price was $2.24.
The U.S. Spot Index rose marginally this week. All three grow types saw upticks in their weighted average prices, with greenhouse flower’s the largest at 3%.
At the state level, numerous large markets saw small declines in the spot wholesale flower prices, including California, Colorado, Michigan, Illinois, and Massachusetts.
Oregon and Nevada were the only sizable markets to see their wholesale prices rise by more than 1%. Arizona and Pennsylvania saw marginal increases in their wholesale flower prices, while Washington’s was flat.
Updated retail markup analysis performed by our team revealed a contraction nearly across the board in the states under consideration, including Massachusetts and Illinois, with Connecticut and Washington, DC being the only exceptions. In the other markets, retail prices generally declined, likely owing to holiday-season promotions and sales. Meanwhile, average wholesale prices were on the upswing as markets seemed to be weighing reports of pullbacks in production relative to what the 2023 autumn harvest actually brought to market.
August 2024 Implied Forward initially assessed at $1,055 per pound.
At $1,050 per pound, the March Implied Forward represents a premium of 3.4% relative to the current U.S. Spot Price of $1,016 per pound.
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