The U.S. Cannabis Spot Index declined by 4.3% to $929 per pound.
In grams, the Spot price was $2.05.
The U.S. Cannabis Spot Index decreased 4.3%, or $42, to close at $929 per pound, a new all-time low. Price decreases across all cultivation methods drove the aggregate decline, with the biggest impact resulting from a 4.7% decrease in higher-priced indoor flower, which contributes more weight to the Index than greenhouse and outdoor sungrown flower combined.
The Arizona Cannabis Spot Index decreased by 5.5% per pound this week. The price assessments for both indoor and greenhouse grown cannabis flower experienced declines, with the Arizona Indoor Cannabis Spot Index losing 1.2%, while the Arizona Greenhouse Cannabis Spot Index fell by 4.8%.
Flower cultivated in all grow type environments experienced declining prices in California this week. Despite these declines, the California Cannabis Spot Index was able to rise by 1.7%. This increase at the state composite price level occurred due to shifting volumes of product traded by grow type, nullifying any impact the losses had on the volume weighted average represented by the state index. Indoor grown flower suffered the largest price swing, losing 14.4%.
Pennsylvania wholesale flower prices saw their largest downward movement since the beginning of September, losing 7.0%, this week. A year-to-date high price was reached on August 23rd, while the year-to-date low occurred just one month ago on October 18th.
December 2024 Implied Forward assessed down $15 to $970 per pound.
At $970 per pound, the December Implied Forward represents a premium of 4.4% relative to the current U.S. Spot Price of $929 per pound.
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