Marijuana Price Slides to $1,630 a Pound

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For the week ended Friday, May 5, 2017, the spot price index for a pound of cannabis slipped 1.1% from $1,648 a pound to $1,630. According to the analysts at Cannabis Benchmarks, the simple average price for a gram rose 9 cents to $4.05.

The futures price for the near-month (June) remained unchanged at $1,700. For the month of July, the forward price is $1,600. The six-month forward price (November) was initially set at $1,365.

About two-thirds of the past week’s transactions occurred in a range of $1,068 to $2,603 per pound.

The Cannabis Benchmark analysts commented on prices in the markets for both medical and recreational-use marijuana:

Product designated to be sold in both medical and adult-use markets saw falling prices this week, with the former declining at a greater rate. Falling prices in California, Arizona, and Nevada drove the decline in rates for flower traded in medical markets. In Oregon, the volume-weighted average rate for product in the medical sector ($1,484 per pound) is over $350 less than in the still relatively new adult-use system ($1,840 per pound), bucking the national trend. Oregon’s reversal on this front is due to unique market dynamics – namely, a dearth of buyers for the production of medical growers …

Indoor flower prices ranged from $800 to $6,500 per pound, with the median price at $2,000. Greenhouse flower prices ranged from $900 to $3,100 per pound, and the median price was $1,305. Outdoor flower prices ranged from $600 to $2,000 per pound; the median price was $1,150.

For a wide-angle look at the cannabis industry, see our report on the largest companies in the marijuana business.

According to consumer data reported to PriceOfWeed.com, the national average price in the United States for high-quality cannabis is $320.68 per ounce. Medium-quality marijuana averages $280.49 per ounce. In Colorado, high-quality weed sells for $242.38 an ounce and medium-quality sells for $199.82. The price for high-quality marijuana is $248.57 in California, while medium-quality sells for $204.00 per ounce. Oregon prices range from $210.70 for high-quality cannabis to $186.25 for medium-quality, and in Arizona, high-quality marijuana sells for $297.72 per ounce while medium-quality goes for $231.53.