The U.S. Cannabis Spot Index decreased by 1.4% to $977 per pound.
In grams, the Spot price was $2.15.
A big swing in indoor grown flower prices pushed the California Cannabis Spot Index down 4.1% per pound this week. The California Indoor Cannabis Spot Index dropped 16.0% per pound. The decline occurred despite both bulk and prepackaged indoor flower prices rising week-on-week, driven by a significant increase in both the number and weight of bulk flower transactions. Fluctuations in the indoor flower index for California are often influenced by large amounts of bulk flower purchased by distributors one week followed by the subsequent sale of the resulting prepackaged products to adult use dispensaries in the following weeks.
After reaching a year-to-date high last week, the Michigan Cannabis Spot Index declined 5.0% per pound this week. Wholesale cannabis flower prices for products of all grow types lost value this week. Despite a rise in the price of bulk flower, the volume of transactions for relatively lower priced bulk flower had a greater impact on the volume weighted averages than the prepackaged product transfers.
The Massachusetts Cannabis Spot Index rose 3.3% per pound this week. Increases in the price assessments for both indoor grown flower, by 2.1%, and greenhouse grown flower, by 7.6%, were able to overcome an 8.3% decline for the outdoor grown flower index. The March average price per pound closes down 4.1% from the February average.
April 2025 Implied Forward closes unchanged at $975 per pound.
At $975 per pound, the April Implied Forward represents a discount of 0.2% relative to the current U.S. Spot Price of $977 per pound. In 2004, the closing April Implied Forward was $1,040 vs. actual April average of $1,017.
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