Current Data

The U.S. Cannabis Spot Index decreased 0.8% to $1,023 per pound.

In grams, the Spot price was $2.25.

At $1,023 per pound, the U.S. Spot Index is down 5.0% 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 $1,003 and spanned a range of $135 (with a low of $952 and a high of $1,087).

Nevada, Pennsylvania, and Montana saw the largest wholesale price movement this week, with each state spot index decreasing by over 7%.

Nevada price movement was impacted by a large number of bulk greenhouse grown flower transactions at the low end of the price range. Indoor prices in the state also declined, but at a smaller rate.

Michigan outdoor grown flower also saw a steep decline this week. As with other markets with significant outdoor production, the summer months often see a decline in outdoor pricing when growers are motivated to move inventory to secure operating budget for the new planting season.

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 31, 2024

June 2024 Implied Forward assessed down $5 to close at $1,040 per pound.

At $1,040 per pound, the June Implied Forward represents a premium of 1.7% relative to the current U.S. Spot Price of $1,023 per pound.

Cannabis Benchmarks U.S. Implied Forward Curve May 31, 2024

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