Current Data

The U.S. Cannabis Spot Index increased 1.8% to $1,031 per pound.

In grams, the Spot price was $2.27.

At $1,031 per pound, the U.S. Spot Index is down 4.3% this year from the 2023 closing price of $1,077, and averaging $1,024 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 $999 and spanned a range of $124 (with a low of $952 and a high of $1,076).

After 3 weeks of declining wholesale prices, Oregon rebounded 8.9% this week on rising greenhouse grown flower prices. Despite the increase, the Oregon Spot Index remains the lowest among the 22 state markets included in our reporting.

The California Spot Index also rose significantly, climbing 10% this week, driven by increases in both indoor and greenhouse grown flower prices.

Both Illinois and Pennsylvania saw the largest declines this week, although the monthly average price per pound in May is higher for each state than previous months.

In addition to identifying wholesale product by grow type – indoor, greenhouse, and outdoor – Cannabis Benchmarks has been differentiating wholesale transactions by whether the transfer occurred as a bulk transaction or a transaction consisting of prepackaged flower. The source data we receive from our Price Contributor Network includes these details and we are pleased to now begin including additional price assessments for wholesale flower sold in bulk or in prepackaged containers. This added granularity of pricing expands our efforts to bring transparency to the wholesale cannabis market. Over the coming months we will be regularly reporting on aggregate, bulk, and prepackaged wholesale flower pricing. Details available in the PREMIUM subscription.

Cannabis Benchmarks U.S. Spot Weighted Average Prices May 24, 2024

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

At $1,045 per pound, the June Implied Forward represents a premium of 1.3% relative to the current U.S. Spot Price of $1,031 per pound.

Cannabis Benchmarks U.S. Implied Forward Curve May 24, 2024

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