The U.S. Cannabis Spot Index increased 3.3% to $1,115 per pound.
In grams, the Spot price was $2.46.
The U.S. Spot wholesale flower price climbed to close November, settling at $1,115 per pound as national rates for all grow types saw upticks. For November 2023 overall, the U.S. Spot averaged $1,096 per pound, up 5.8% month-on-month and 10.4% year-on-year.
At the state level, increases in wholesale flower prices in California and Massachusetts were primarily responsible for lifting the U.S. Spot this week. State spot prices in other large markets – namely Michigan, Colorado, Illinois, Oregon, Arizona, and Washington – were fairly stable week-on-week.
Overall, wholesale prices in large markets that also have outdoor cultivation are generally up year-on-year, contributing to elevated national-level wholesale prices post-harvest. Average state spot prices for November 2022 versus November 2023 are shown in the table below.
December 2023 Implied Forward assessed up $45 to close at $1,060 per pound.
At $1,060 per pound, the December 2023 Implied Forward represents a discount of 4.9% relative to the current U.S. Spot Price of $1,115 per pound.
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