Marijuana Price Rises Over 2% to $1,589 a Pound
For the week ended Friday, June 9, 2017, the spot price index for a pound of cannabis rose more than 2% to $1,589, according to the analysts at Cannabis Benchmarks.
For the week ended Friday, June 9, 2017, the spot price index for a pound of cannabis rose 2.3% to $1,589. According to the analysts at Cannabis Benchmarks, the simple average price for a gram rose 16 cents to $4.02.
The futures price for the near-month (July) remained unchanged at $1,525. For the month of August, the forward price remained at $1,510. The six-month forward price (December) remained at $1,465.
About two-thirds of the past week’s transactions occurred in a range of $1,126 to $2,521 per pound.
The Cannabis Benchmark analysts commented in its recent report:
The U.S. Spot Index ticked upward this week by just over 2%, despite declines in the volume-weighted average rates of both sun-fueled grow types. Pricing for outdoor-grown product was down only slightly. Despite the fall in rates for greenhouse product being proportionally larger than the increase experienced by indoor flower, the latter wielded the greatest influence on the national composite rate this week.
[nativounit]
Indoor flower prices ranged from $999 to $6,500 per pound, with the median price at $2,000. Greenhouse flower prices ranged from $600 to $2,500 per pound, and the median price was $1,320. Outdoor flower prices ranged from $800 to $1,800 per pound; the median price was $1,050.
Our price check at MJCharts indicates prices range from $20.00 a gram to a low of $4.00 in the all-cities index. The all-cities index price is $11.12 per gram, up a two pennies compared with the prior week. The overall average price for a gram of marijuana (all strains) in Arizona is currently $8.98, ranging from a high of $15.00 a gram to a low of $6.00. In California the average price is $13.81 per gram, ranging from $15.00 down to $11.00 per gram. And in Oregon, the average is $11.08 per gram in a range of $21.00 to $4.00.
[wallst_email_signup]
Contact [email protected] for any questions or corrections.
Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
