The U.S. Cannabis Spot Index decreased 3.7% to $1,082 per pound.
In grams, the Spot price was $2.39.
The Illinois Cannabis Spot Index spent the final four months of 2025 at a stable, yet relatively weak position. The new year brought higher wholesale prices, with the 2026 YTD average heading into this week sitting 10.7% above the Q3 2025 average price per pound. This week the state index had its largest loss since the start of last September, declining by 3.6% per pound.
The Michigan Cannabis Spot Index took a major turn this week, declining by a staggering 18.2% per pound. Double-digit percentage price declines were experienced for flower products across all grow types. The state index had recently been experiencing stability, but that changed this week as a surplus of bulk flower sank the state market. Bulk flower pricing for greenhouse grown products fell by 27.4%, while pricing for outdoor flower sold in bulk lost 21.6%.
The New Jersey Cannabis Spot Index suffered its largest loss on record this week, decreasing 14.2% per pound. Transactions for greenhouse grown flower sold in bulk and priced at the bottom of the price range was the main driver of the state loss, as the state greenhouse index lost 19.8% in value.
September 2026 Implied Forward initially assessed at $1,090 per pound.
At $1,070 per pound, the March 2026 Implied Forward represents a discount of 1.1% relative to the current U.S. Spot Index of $1,082 per pound.
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