Companies and Brands
Marijuana Price Slips to $2,023
Published:
Last Updated:
For the week ended Friday, June 10, the spot price index for a pound of cannabis decreased 3% from $2,086 in the prior week to $2,023. The simple average price for a gram rose from $4.68 to $4.90.
The futures price for the near month (July) dropped $15 to $2,135 per pound. For the month of August, the forward price remained unchanged at $2,200 a pound. The six-month forward price for December also remained steady at $1,725.
About two-thirds of the past week’s transactions occurred in a range of $1,654 to $2,794 per pound, according to the analysts at Cannabis Benchmarks. Looking at forward pricing trends, the analysts had this to say:
Expectations for price increases through the end of June and into the summer continue, however the July Forward is off $15 as market participants react to recent price stability.  At $2,135 per pound, the July Forward represents a premium of 5.5% to the current Spot Price of $2,023 per pound. … For the first two weeks of June, the average Spot Price was $2,054, which is $71 below the June Forward expiration price of $2,125 per pound.
Implied forward prices are expected to reach their peak in August at $2,200 a pound before dropping to $1,650 in November.
Our price check at MJCharts.com indicates prices range from $25 a gram to a low of $2 in the all-cities index. The all-cities index price is $12.26 per gram, up three cents compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.42 ranging from a high of $25 a gram to a low of $2. In California the price is $15.32 per gram, ranging from $25 down to $5 per gram, while in Michigan the average price is $14.11 per gram in a range of $25 to $5. In Oregon the average is $10.78 per gram in a range of $25 to $2, and in Washington the average is $10.72 per gram, ranging from a high of $21 to a low of $4.55.
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
