The U.S. Cannabis Spot Index declined by 0.7% to $923 per pound.
In grams, the Spot price was $2.04.
At $923 per pound, the U.S. Cannabis Spot Index reached a new all-time low for the second consecutive week. Unlike last week, when price decreases across all cultivation methods drove the aggregate decline, this week’s new low was driven exclusively by a shift in the observed flower mix, with the volume of lower-priced greenhouse and outdoor flower increasing their contributions to the Index by weight by 2% and 1%, respectively.
The largest state-level movement this week occurred in Oregon. The Oregon Cannabis Spot Index lost 8.6% per pound this week. The last time the state index dipped this low was in early August of this year. The state-level movement was fueled by declines in both indoor grown and greenhouse grown bulk flower.
In Nevada, wholesale prices continue to trend downward, with the Nevada Cannabis Spot Index reaching an all-time low this week. Declining prices have been the norm in Nevada since early August. The Nevada index has suffered since June of this year, losing nearly 30% of its value.
Wholesale cannabis flower prices in Vermont suffered a 6.0% per pound loss this week. Declining prices for indoor grown and outdoor grown flower weighed the heaviest on the state composite price, with indexes for both cultivation methods falling over 7%. Overall in the state, the bulk flower volume weighted average lost 4.6% while the prepackaged flower volume weighted average saw a 2.1% decline.
December 2024 Implied Forward assessed down $5 to $965 per pound.
At $965 per pound, the December Implied Forward represents a premium of 4.5% relative to the current U.S. Spot Price of $923 per pound.
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