The U.S. Cannabis Spot Index decreased 4.0% to $1,119 per pound.
In grams, the Spot price was $2.47.
The Arizona Cannabis Spot Index saw a decrease of 11.6% per pound this week. Price declines for both indoor and greenhouse grown flower, by 8.1% and 3.9%, respectively, contributed to the state index dropping to its lowest level in 5 weeks. The current state index is even with the Q3 2025 average price per pound. Both bulk and prepackaged flower prices lost over 5.0% per pound.
The Oregon Cannabis Spot Index had the largest movement across the state indexes this week, gaining 17.6% per pound. A contraction of transactions for outdoor grown flower, along with a 13.1% increase for the state greenhouse index, relieved some of the downward pressure typically applied by these products. Despite a 2.8% decrease for the price of indoor grown flower, the total volume of warehouse grown product, and its relatively higher associated price, aided the state index in reaching its highest level in 8 weeks.
The Vermont Cannabis Spot Index declined by 3.9% per pound this week. While the state greenhouse index lost 2.4%, the state outdoor index rose 3.4% due to a decrease in bulk flower transactions priced in the lower quartile. Indoor grown flower prices were relatively flat, gaining just 0.3% over last week.
November 2025 Implied Forward unchanged at $1,120 per pound.
At $1,120 per pound, the November Implied Forward represents a premium of 0.1% relative to the current U.S. Spot Index of $1,119 per pound. For context, in 2024, the U.S. Spot Index declined 5.6% during the two month period, from October to December.
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