Marijuana Price Falls Below $2,000
For the week ended Friday, January 29, the spot price index for a pound of cannabis fell to $1,977, according to Cannabis Benchmarks.
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For the week ended Friday, January 29, the spot price index for a pound of cannabis fell from $2,023 in the prior week to $1,977. The simple (non-volume-weighted) average price for a gram fell by 15 cents from $4.93 to $4.78.
The futures price for February remained flat at $2,000 on the near-month contract. For the month of March, the forward price was unchanged at $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 $1,643 to $2,694 per pound, according to the analysts at Cannabis Benchmarks. The analysts also commented on the forward price curve:
With the April and May Forwards at $2,080 per pound, the market is anticipating spring prices to be 5.2% higher than this week’s Spot price of $1,977 per pound. At $2,130 per pound, the June Forward is 7.7% higher than the current Spot price, while the July Forward is anticipated to be 8.8% higher than the Spot price.
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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 $10.43 per gram, down three cents from last week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.42, ranging from a high of $12 a gram to a low of $8. In California the price is $14.64 per gram, ranging from $25 down to $6 per gram, while in Michigan the average is $16.64 per gram in a range of $20 to $10. In Oregon the average is $10.26 per gram in a range of $21 to $4, and in Washington the average is $10.89 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.
