The U.S. Cannabis Spot Index increased 1.4% to $937 per pound.
In grams, the Spot price was $2.06.
The U.S. Cannabis Spot Index increased 1.4%, or $13, to close at $937 per pound. YTD the Index has averaged $1,004 per pound. The Index – launched April 24, 2015 – reached a high of $2,133 on September 11, 2015; and has now declined 56.7% to reach $923 per pound.
Outdoor grown flower in Michigan continues to drag the state wholesale market down. This week the sell-off of bulk outdoor flower products continued, further collapsing the Michigan Outdoor Cannabis Spot Index to a new all-time low for any grow type index we’ve reported on since our reporting started in 2015. The current outdoor grown volume weighted average cannabis price is down 71% from July 5th, our first price assessment of H2 2024.
The Oregon Cannabis Spot Index declined 2.1% per pound this week. Falling wholesale prices across all grow types contributed to the state level decline. The month of November average price assessment per pound is down 7.9% from the October average.
The Vermont Cannabis Spot Index saw an increase of 2.8% per pound this week. Both indoor grown and greenhouse grown flower had increases in volume weighted averages per pound this week, 5.3% and 1.8%, respectively, while outdoor grown flower lost 5.6% per pound. Since the beginning of H2 2024, the volume weighted average of bulk flower transactions for all grow types has fallen over 26% while prepackaged flower transactions for all grow types has declined by only 1.8%.
December 2024 Implied Forward closes at $965 per pound.
At $965 per pound, the December Implied Forward represents a premium of 3.0% relative to the current U.S. Spot Price of $937 per pound.
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