July 1, 2022

U.S. Cannabis Spot Index — July 1, 2022

U.S. Cannabis Spot Index — Published July 1, 2022

The U.S. Cannabis Spot Index decreased 0.9% to $1,057 per pound.


The simple average (non-volume weighted) price decreased $17 to $1,354 per pound, with 68% of transactions (one standard deviation) in the $591 to $2,118 per pound range. The average reported deal size was nominally unchanged at 2.5 pounds. In grams, the Spot price was $2.33 and the simple average price was $2.99.


The relative transaction frequency of indoor product fell 1%, while those of greenhouse and outdoor product were essentially unchanged.      



The relative volumes of each grow type were stable from last week.


U.S. Spot price is down $10 this week to $1,057 per pound as legacy and newer markets continue to catch a shellacking from various combinations of oversupply, abundant competition, and uncapped licensing.  


Prices for outdoor flower in legacy states remain in a strong downtrend. Prices for this most abundant grow type will likely form the basis for an eventual futures contract, This would greatly benefit the industry, allowing for hedging against price fluctuations and creating price – and profit – certainty.


January 2023 Implied Forward initially assessed at $1,075 per pound.


The average reported forward deal size increased to 91 pounds. The proportions of forward deals for outdoor, greenhouse, and indoor-grown flower were 45%, 36%, and 19% of forward arrangements, respectively.


The average forward deal sizes for monthly delivery for outdoor, greenhouse, and indoor-grown flower were 96 pounds, 96 pounds, and 69 pounds, respectively.



At $1,125 per pound, the August 2022 Implied Forward represents a premium of 6.4% relative to the current U.S. Spot Price of $1,057 per pound. The premium or discount for each Forward price, relative to the U.S. Spot Index, is illustrated in the table below.

Headlines from this week's Premium Report:


Legislature Bids Farewell to Cultivation Tax

Cannabis Businesses Take on Prop 64 Opt-Out Towns

New York

New York Opens Processor Licensing Window


Hopes Rise for SAFE Banking Act Passage

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1 July 2022.  Copyright © 2022 New Leaf Data Services, LLC.  All rights reserved