The U.S. Cannabis Spot Index declined by 2.4% to $1,002 per pound.
In grams, the Spot price was $2.21.
The Colorado Cannabis Spot Index climbed 4.6% this week. A 1.9% increase in outdoor grown flower pricing helped to lift the state composite price, as indoor grown flower prices remained steady, and the greenhouse grown flower price assessment lost 1.5%.
The state composite price in Michigan took a heavy loss this week, dropping 14.1% per pound. Major selloffs of outdoor flower continued this week, with hundreds of pounds being transacted below the $250 per pound price point.
Wholesale prices in Pennsylvania saw the most positive movement of any market covered by Cannabis Benchmarks this week. The high end of prepackaged product in the state rose above $3,200 per pound, pushing the Pennsylvania Cannabis Spot Index up 8.1% per pound
November 2024 Implied Forward unchanged to close at $1,010 per pound.
At $1,010 per pound, the November Implied Forward represents a premium of 0.8% relative to the current U.S. Spot Price of $1,002 per pound.
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