Current Data

The U.S. Cannabis Spot Index increased 0.4% to $1,013 per pound.

In grams, the Spot price was $2.23.

At $1,013 per pound, the U.S. Spot Index is down 5.9% this year from the 2023 closing price of $1,077, and averaging $1,023 per pound. The low of $991 and the high of $1,072 were established just two weeks apart, on March 8th and March 22nd, respectively. Year-to-date, the U.S. Spot Index remains in an $81 range. For the same period last year, the Index averaged $995 and spanned a range of 111 (with a low of $952 and a high of $1,063).

For the third straight week, Oregon prices saw the largest decline among the 22 state markets reported on. The indoor volume weighted average price dropped over 10% this week. An increase in volume of low-priced outdoor product also significantly contributed to the overall price drop in the state.

The California Spot Index fell 3%, driven by large volume bulk transactions of lower priced greenhouse and outdoor grown flower.

Michigan indoor flower prices reached an all-time low, declining over 9% since last week and 22% since the close of 2023.

Cannabis Benchmarks U.S. Spot Weighted Average Prices May 17, 2024

June 2024 Implied Forward unchanged at $1,045 per pound.

At $1,045 per pound, the June Implied Forward represents a premium of 3.2% relative to the current U.S. Spot Price of $1,013 per pound.

Cannabis Benchmarks U.S. Implied Forward Curve May 17, 2024

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