The U.S. Cannabis Spot Index decreased 2.1% to $978 per pound.
In grams, the Spot price was $2.16.
Greenhouse grown flower in Michigan is trending closer in pricing to indoor grown flower. Indoor grown flower prices have dropped more than greenhouse flower prices have risen, a phenomenon that has occurred in other markets as they mature.
Nevada’s weighted average price this week rose 5.6%. History has demonstrated a positive correlation between cannabis prices and Las Vegas tourism metrics, which are on the rise across the board in 2024.
Arizona Composite Spot price rose 9.6% on a reduction in the quantity of greenhouse transactions in the lower price quartile.
At $978 per pound, the U.S. Spot Index is down 9.2% this year from the 2023 closing price of $1,077, and averaging $1,022 per pound. At $978, the U.S. Spot Index has reached a low for the year. The high of $1,072 was established on March 22nd. Year-to-date, the U.S. Spot Index has reached a $94 range. For the same period last year, the U.S Spot Index averaged $999 per pound.
July 2024 Implied Forward assessed down $20 to close at $1,020 per pound.
At $1,020 per pound, the July Implied Forward represents a premium of 4.3% relative to the current U.S. Spot Price of $978 per pound.
Did you know that you can access state-level retail sales data and much more in our Interactive Charts?
We collect fundamental market data released by states and put it all in one convenient location for you to access it. Looking for more data? Contact Us and let us know what you’re looking for.