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Marijuana Price Jumps 3.5% to $1,971
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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.
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