Current Data

U.S. Cannabis Spot Index down 0.3% to $1,642 per pound.

The simple average (non-volume weighted) price decreased $3 to $1,856 per pound, with 68% of transactions (one standard deviation) in the $1,131 to $2,581 per pound range. The average reported deal size decreased to 2.2 pounds. In grams, the Spot price was $3.62 and the simple average price was $4.09.

The relative frequency of trades for greenhouse flower expanded by over 4%. The relative frequencies of deals for indoor and outdoor product decreased by about 3% and 1%, respectively.   

The relative volume of warehouse flower contracted by almost 4% this week. The relative volumes of greenhouse and outdoor product expanded by about 1% and 3%, respectively.

New data out of several state markets published this week shows that strong demand is persisting. However, it also appears that some previously established seasonal sales trends – namely, declining retail revenue figures from September through October – are reasserting themselves after the COVID-19 pandemic altered consumer purchasing behavior earlier this year. 

Colorado saw a downturn in sales in September. Previously red-hot sales growth in Oklahoma’s medical market has cooled; another decline was reported in October, but retail revenues remain quite high compared to pre-COVID. 

Other sizable markets are exhibiting more idiosyncratic sales movement. October’s revenue figures out of Illinois represent another record high as the state’s young adult-use market continues to expand. Late-reported data for July and August out of Nevada shows that sales jumped to historic peaks after slumping earlier in the pandemic. Expanded tourism combined with previous increases in local demand to catapult revenue to unprecedented levels.

Overall, while some states are still seeing sales increases and upward movement of wholesale prices, it appears that cooling demand growth in recent months has provided some breathing room for producers, particularly in more established state markets. The state Spot Indexes of California, Colorado, Oregon, and Washington have all leveled off in recent weeks.