The U.S. Cannabis Spot Index increased 1.6% to $1,032 per pound.
In grams, the Spot price was $2.27.
The U.S. Spot Index rose 1.6% this week on the strength of a 6.1% increase in the price of greenhouse flower, despite declines in the prices of both outdoor sungrown and indoor grown flower.
Wholesale prices for all three cultivation methods were assessed this week at levels lower than their respective annual averages from last year, with outdoor sungrown off 21% at $405 vs last year’s average of $514.
At the state level, in general, greenhouse prices saw the most volatility this week, with a nearly 11% increase in California, and almost a 13% decline in Oregon. However, the price of outdoor sungrown in Alaska declined 8.4%. Despite the decline in Oregon, the state’s Spot Index rose 2.2%. Nevada’s spot index rose nearly 6% on strength of both indoor and greenhouse prices.
March 2024 Implied Forward unchanged at $1,050 per pound.
At $1,050 per pound, the March Implied Forward represents a premium of 1.8% relative to the current U.S. Spot Price of $1,032 per pound.
