Current Data

U.S. Cannabis Spot Index up 0.1% to $1,460 per pound. The simple average (non-volume weighted) price was nominally unchanged at $1,663 per pound, with 68% of transactions (one standard deviation) in the $976 to $2,350 per pound range. The average reported deal size increased to 2.1 pounds. In grams, the Spot price was $3.22 and the simple average price was $3.67.

The relative frequency of trades for indoor flower decreased by over 1% this week. The relative frequency of deals for outdoor product increased by the same proportion, while that for greenhouse flower was unchanged.

The U.S. Spot Index rose by $1 this week to settle at $1,460 per pound. This is the third consecutive week that the national composite price has established a new annual peak. Yet, the marginal increase documented this week, along with the behavior of wholesale rates at the state level, suggests that the downturn in prices seen customarily at this time of year may yet be in the offing.  

California’s Spot saw a significant uptick this week on the back of increases in rates for greenhouse and outdoor product. However, while price trends in the four major Western markets have all generally been on the upswing since this summer, some divergences began to be observed this week. Most notably, the strong, steady climb of Oregon’s Spot was interrupted by a significant decline this week. Meanwhile, positive movement in wholesale rates in Colorado and Washington has leveled off in recent weeks. 

Whether the departures from uniformly upward movement in wholesale prices in the major markets will persist remains to be seen. Even as the fall harvest begins to make its way to market in earnest in the weeks ahead, the approach of the Thanksgiving holiday means that wholesale demand will likely increase at the same time. As those who have observed the legal cannabis industry in recent years are aware, retailers now traditionally run “Green Friday” specials on the day after Thanksgiving and so will look to have larger volumes of product on hand to accommodate consumers looking to take advantage of sales and promotions.

The national volume-weighted price for flower to be sold to general consumers declined slightly this week. The downturn was due mainly to a significant drop in wholesale rates in Oregon, although Colorado also saw a small decrease in the price for flower in its adult-use sector.  

The national price for medical flower continued its overall upward trend of the past six weeks. A rise in that sector of the market in California, along with upticks in Maine, Massachusetts, Michigan, New Mexico, Rhode Island, and Vermont pushed up the national rate for medical product.