Current Data

U.S. Cannabis Spot Index up 2.1% to $1,616 per pound.

The simple average (non-volume weighted) price increased $12 to $1,824 per pound, with 68% of transactions (one standard deviation) in the $1,047 to $2,601 per pound range. The average reported deal size was nominally unchanged at 2.4 pounds. In grams, the Spot price was $3.56 and the simple average price was $4.02.

The relative frequency of transactions for greenhouse flower decreased by almost 2%. The relative frequency of deals for indoor product increased by the same proportion, while that for trades for outdoor flower was stable. 

The relative volume of outdoor flower contracted by 3% this week. The relative volume of warehouse product expanded by the same proportion, while that for greenhouse flower was unchanged.

The U.S. Spot Index was generally on the rise last month, as well as being up relative to April. The national composite price averaged $1,572 per pound in May, an increase of 2.9% from the prior month. May 2021’s mean U.S. Spot price is also up 17.7% year-over-year, from $1,336 per pound in May 2020. 

We noted in a recent report that retail sales in the 10 largest markets for which Cannabis Benchmarks assesses wholesale prices were up over 50% year-over-year in both March and April 2021. Early May sales data out of some states indicates that elevated demand is persisting. However, there are some signs that demand could be leveling off based on recently-released sales figures. 

In Oregon, for example, retail revenues fell from April to May 2021, breaking with the trend of increasing monthly sales in that span in each year from 2017 through 2020. Meanwhile, in Illinois, although total monthly adult-use sales increased month-over-month in May, average daily retail revenues in that sector of the state’s market declined last month for the first time in over a year.