Current Data

U.S. Cannabis Spot Index up 0.6% to $1,486 per pound.

The simple average (non-volume weighted) price decreased $29 to $1,749 per pound, with 68% of transactions (one standard deviation) in the $1,013 to $2,484 per pound range. The average reported deal size decreased to 2.4 pounds. In grams, the Spot price was $3.28 and the simple average price was $3.86.

The relative frequency of trades for greenhouse flower decreased by 1%. The relative frequency of deals for outdoor product increased by the same proportion, while that for indoor flower was unchanged.

The relative volume of warehouse flower expanded by 4% this week. The relative volumes of greenhouse and outdoor product contracted by 1% and 3%, respectively.

The city of Detroit began accepting applications for adult-use retailers this week, on Tuesday, January 19. Applications will initially only be accepted from “legacy residents” who meet certain criteria under a social equity program, according to the Detroit News. To this point, Detroit has not permitted any adult-use cannabis businesses to open in the city. We noted previously that licenses could be issued as soon as June 2021. 

The Detroit News report notes, “only a handful of the city’s 46 medical marijuana dispensaries … are owned by [Detroit] residents.” This suggests that, for the most part, sales to adult-use consumers will not begin through existing stores as soon as licenses are issued and most new licensees will have to get up and running from scratch.