Marijuana Price Jumps 3.5% to $1,971
For the week ended Friday, April 1, the spot price index for a pound of cannabis rose more than 3% to $1,971, according to Cannabis Benchmarks.
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
For the week ended Friday, April 1, the spot price index for a pound of cannabis rose 3.5% from $1,904 in the prior week to $1,971. The simple average price for a gram also rose about 2.3% from $4.70 to $4.81.
The futures price for the near month (May) fell 0.5% from $2,010 to $2,000. For the month of June, the forward price rose 0.5% to $2,010 a pound. The six-month forward price for October also fell about 0.9% to $1,990.
About two-thirds of the past week’s transactions occurred in a range of $1,626 to $2,736 per pound, according to the analysts at Cannabis Benchmarks. The analysts also commented on the forward price curve:
By October, large volumes of outdoor grown flower begin to flood markets. While local markets experience their unique fluctuations, this period is typically a buyer’s market, as sellers become price-takers. The fall harvest – which is predominantly a west-coast event – tends to drive down prices nationally, as illicit supplies make their way east and put pressure on legal prices. The US Spot Price averaged $1,834 per pound in October 2015, indicating that the market is anticipating October’s prices to average 8.5% more than last year.
[recirclink id=305541]
Note that the forward curve indicates prices will rise to $2,250 in August, then drop to $2,200 in September before tumbling in October.
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 $10.48 per gram, up six cents compared with last week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.87, ranging from a high of $15 a gram to a low of $8. In California the price is $14.45 per gram, ranging from $25 down to $6 per gram, and in Michigan the average price is $16.36 per gram in a range of $20 to $10. In Oregon the average is $10.33 per gram in a range of $21 to $4, while in Washington the average is $10.33 per gram, ranging from a high of $13.70 to a low of $6.
Contact [email protected] for any questions or corrections.
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.
