Marijuana Price Dips to $1,579 a Pound

Print Email

For the week ended Friday, May 12, 2017, the spot price index for a pound of cannabis slipped 3.1% from $1,630 a pound to $1,579. According to the analysts at Cannabis Benchmarks, the simple average price for a gram fell two cents to $4.03.

The futures price for the near-month (June) fell from $1,700 to $1,680. For the month of July, the forward price remained unchanged at $1,600. The six-month forward price (November) was also unchanged at $1,365.

About two-thirds of the past week’s transactions occurred in a range of $1,078 to $2,580 per pound.

The Cannabis Benchmark analysts commented on the current pattern of weekly price declines in the wholesale price:

The U.S. Spot Index has now experienced six consecutive weeks of falling or flat performance, declining this week by just over 3% to settle at $1,579 per pound. The overall decrease in the nation’s composite volume-weighted average was driven primarily by a fall in pricing for indoor product, though greenhouse-grown flower also saw a slight decline in its going rate as well. … Currently, the year-to-date high price for the U.S. Spot occurred in the week ending March 31st, when the national average reached $1,682 per pound. Last year at this time, the U.S. Spot was rising on its way to achieving an annual high price at the end of May, when it peaked at $2,096 per pound in the week ending May 27, 2016. If the current year-to-date high price for 2017 were to hold for the remainder of the year, that would mark the second consecutive year in which the annual peak price was observed to occur earlier than the year prior.

Indoor flower prices ranged from $999 to $6,500 per pound, while the median price was $2,000. Greenhouse flower prices ranged from $1,000 to $3,100 per pound, and the median price was $1,305. Outdoor flower prices ranged from $700 to $2,000 per pound, with a median price of $1,200.

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 retail price in the United States for high-quality cannabis is $320.67 per ounce. Medium-quality marijuana averages $280.53 per ounce. In Colorado, high-quality weed sells for $242.38 an ounce and medium-quality sells for $199.79. The price for high-quality marijuana is $248.60 in California, while medium-quality sells for $204.03 per ounce. Oregon prices range from $210.64 for high-quality cannabis to $186.27 for medium-quality, and in Arizona, high-quality marijuana sells for $297.67 per ounce while medium-quality goes for $231.51.