Marijuana Price Slips 1% to $2,020
For the week ended Friday, January 15, the spot price index for a pound of cannabis decreased by about 1% to $2,020.
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For the week ended Friday, January 15, the spot price index for a pound of cannabis decreased by $23 (about 1%) from $2,043 in the prior week to $2,020. The simple (non-volume-weighted) average price for a gram fell by five cents from $4.84 to $4.79.
The futures price for February rose from $1,925 to $2,000 on the near-month contract. For the month of March, the forward price rose to $2,020 a pound. The six-month forward price for July also remained unchanged at $2,150.
About two-thirds of the past week’s transactions occurred in a range of $1,667 to $2,680 per pound, according to the analysts at Cannabis Benchmarks. The analysts also commented on the forward price curve:
With prices anticipated to fluctuate by several hundred dollars ahead of the annual 4/20 festivities, the April Forward price increased to meet the May Forward. 2015 saw average April prices rise as much as $800 per pound between the first and third weeks of April, with prices declining almost the same amount by the first week of May.
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Our price check at MJCharts.com indicates prices range from $25 a gram to a low of $4 in the all-cities index. The all-cities index price is $10.46 per gram, down seven cents from last week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.13, ranging from a high of $12 a gram to a low of $8. In California the price is $15.27 per gram, ranging from $25 down to $6 per gram, while in Michigan the average is $16.43 per gram in a range of $20 to $10. In Oregon the average is $10.25 per gram in a range of $20 to $4, and in Washington the average is $11.09 per gram, ranging from a high of $15 to a low of $6.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
