The U.S. Cannabis Spot Index increased 0.9% to $1,035 per pound.
In grams, the Spot price was $2.28.
At $1,035 per pound, the U.S. Spot Index is down 3.8% this year and averaging $1,025 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 has remained in an $81 range. For the same period last year, the Index averaged $989 and spanned a range of $92 (with a low of $952 and a high of $1,044).
The Oregon state composite price assessment saw the largest individual drop this week, declining over 8% after a surge in outdoor product transactions and volume. Nevada indoor prices rose 5% on the back of significant volume deals for prepackaged eighths at elevated prices. The Massachusetts greenhouse price dropped over 15% this week driven by large bulk deals in the bottom quartile, nullifying the price gains achieved since the beginning of February.
November 2024 Implied Forward initially assessed at $1,035 per pound.
At $1,060 per pound, the June Implied Forward represents a premium of 2.4% relative to the current U.S. Spot Price of $1,035 per pound.
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