The U.S. Cannabis Spot Index increased by 2.4% to $1,096 per pound.
In grams, the Spot price was $2.42.
Sell-offs of large quantities of bulk indoor and greenhouse grown flower pushed the Arizona Cannabis Spot Index down by 14.4% per pound this week. The state indoor spot index experienced the largest impact, losing 20.3% per pound. Members of our Price Contributor Network informed us of additional sales of large bulk flower transactions planned for delivery in the coming weeks. Prices for these “forward contracts” can be settled with a fixed price, a floating price, or a combination. Floating prices, such as the state grow type price indices published by Cannabis Benchmarks, are not predetermined and are driven by the supply-demand dynamics shaping the wholesale market at the time of delivery. In forward contracts, buyers and sellers often agree to adjust to a price above or below the index price based on specific parameters, such as THC potency.
For the 4th straight week, the Michigan Cannabis Spot Index has gained value, this week by 4.4% per pound. This is the highest the state index has reached since the last week in May, and the 2nd highest mark of the year. The July average price assessment is 4.8% higher than the June average price per pound.
The New York Cannabis Spot Index declined by 2.8% per pound this week. Outdoor grown flower – the dominant method of cultivation in the state, representing 70% or more of potential canopy – is the primary driver of prices in the State; thus, despite price increases for higher-priced indoor and greenhouse grown flower, a 2.1% decline in the price of outdoor grown flower was responsible for the state index decline. The state volume weighted average also dropped below the simple average, which is common in markets as buyers purchase larger quantities from trusted producers.
August 2025 Implied Forward assessed up $15 to $1,035 per pound.
At $1,035 per pound, the August Implied Forward represents a discount of 5.6% relative to the current U.S. Spot Price of $1,096 per pound. In August of 2024, the U.S. Spot Price ranged from a low of $982 to a high of $1,019.
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