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.
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.