Current Data

The U.S. Cannabis Spot Index increased 0.8% to $985 per pound.


The simple average (non-volume weighted) price decreased $2 to $1,207 per pound, with 68% of transactions (one standard deviation) in the $522 to $1,892 per pound range. The average reported deal size decreased to 2.6 pounds. In grams, the Spot price was $2.17 and the simple average price was $2.66.


The relative transaction frequency of indoor product was unchanged this week, as were those of greenhouse and outdoor product. 


The relative volume of indoor product rose 3%, while that of greenhouse flower fell 2%. Outdoor flower’s relative volume also fell 2% this week.

U.S. spot price rose just $19 this week to $985 per wholesale pound. Illinois remains the most expensive cannabis in the nation on factors well-covered here. However, topside gains narrowed again this week with wholesale pounds up just $1. The state has put together 10 weeks of steady gains with the exception of last week when spot price shed $3. The average weekly gain has been just $8 since the week of July 22, 2022, displaying little upside momentum in a well-supplied market.

As the cultivation oligopoly slowly breaks with new entrants, Illinois prices should become more competitive, but not as competitive as products “imported” from Oregon and California, not to mention Michigan. When the state next door is trading a one fourth the price, one wonders how Illinois prices can be sustained. Stay tuned.

Vermont jumped into the adult use retail space two weeks ago with pricing $104 over the Maine spot price and better than $200 over the Massachusetts price. The spreads between the three New Englanders are: Vermont / Massachusetts at $219, Vermont / Maine $104, and Maine / Massachusetts at $115. With Rhode Island and Connecticut on deck to begin adult use retail sales within the next six months, the spreads should tighten among New England’s contiguous states, then spread throughout the region. The pace of East Coast price convergence is going to make legacy state convergence look like an eon of time.