Current Data

U.S. Cannabis Spot Index up 1.1% to $1,457 per pound.

The simple average (non-volume weighted) price increased $5 to $1,637 per pound, with 68% of transactions (one standard deviation) in the $905 to $2,370 per pound range. The average reported deal size decreased to 1.9 pounds. In grams, the Spot price was $3.21 and the simple average price was $3.61.

The relative frequency of trades for indoor flower increased by 8% this week. The relative frequency of deals for greenhouse and outdoor product both decreased, by 6% and 2%, respectively. 

Warehouse product’s share of the total reported weight moved nationally expanded by 6% this week. The relative volumes of greenhouse and outdoor flower each contracted by 3%.

The U.S. Spot Index rose by 1.1% this week to settle at $1,457 per pound. The national composite price has trended upward to start 2020, with this week’s rate representing an increase of 4.3% from the start of the year. This week’s U.S. Spot is also just $7 below 2019’s annual peak, which was documented in the week ending November 15. 

Overall wholesale flower prices in three of the country’s four largest markets – California, Colorado, and Oregon – have been fairly stable in recent weeks. Upward pressure on the national composite rate has come from Washington State and Nevada, as well as the newer adult-use systems in Massachusetts, Michigan, and Illinois. The opening of those states’ markets to general consumers has also pushed up prices for flower designated as medical, particularly in Illinois this week.

Looking ahead a few weeks, historical sales data out of established markets has shown that March is typically the month that sees the strongest demand in Q1, and sometimes for the first half of a year. Retailers in the major markets may look to bring in additional inventory in the coming weeks, which could result in upward pressure on wholesale prices in states where they have been fairly steady.