CANNABIS BENCHMARKS WEEKLY REPORT -- PUBLISHED FEBRUARY 16, 2018
U.S. Cannabis Spot Index up 0.2% to $1,273 per pound.
The simple average (non-volume weighted) price decreased by $10 to $1,389 per pound, with 68% of transactions (one standard deviation) in the $696 to $2,082 per pound range. The average deal size increased 6.5% to 10.1 pounds from 9.4 pounds last week. In grams, the Spot price was $2.81, and the simple average price was $3.06.
Warehouse flower’s share of the total observed weight moved held steady this week. The relative volume of greenhouse product increased by 2%, resulting in a corresponding decline in that metric for outdoor-grown flower. The relative frequency of trades for greenhouse product also rose week-over-week, by 5%. Indoor flower saw its relative frequency decline by that proportion, as outdoor product’s share of the total reported transactions was stable week-over-week.
After across-the-board declines in the national composite volume-weighted average price last week, as well as those of each individual grow type, this week saw a modest increase in the going price for warehouse product lift the U.S. Spot Index slightly. Average deal sizes for greenhouse and outdoor flower have contracted since the final week of 2017, from 20.4 and 28.8 pounds, respectively.
Apart from Connecticut and Vermont, every state with only a medical cannabis market saw a week-over-week decline in its Spot Index. The volume-weighted average price for flower designated as medical in California also decreased slightly.
March Forward unchanged at $1,375 per pound.
The average forward deal increased 1 pound to 56 pounds. The proportion of forward deals for outdoor, greenhouse, and indoor-grown flower represented 48%, 28%, and 24% of forward arrangements, respectively. The average forward deal size for monthly delivery for outdoor, greenhouse, and indoor-grown flower was 68 pounds, 58 pounds, and 28 pounds, respectively.
At $1,375 per pound, the March Forward represents a premium of 8% relative to the current U.S. Spot Price of $1,273. The premium or discount for each Forward price, relative to the U.S. Spot Index, is illustrated in the table below.
Sample headlines from this week's Premium Report:
16 February 2018. Copyright © 2017 New Leaf Data Services, LLC. All rights reserved