For the week ended Friday, April 22, the spot price index for a pound of cannabis rose 1.6% from $1,970 in the prior week to $2,002. The simple average price for a gram fell by about 2.9% from $4.84 to $4.70.
The futures price for the near month (May) remained unchanged at $2,050. For the month of June, the forward price also remained unchanged at $2,075 a pound. The six-month forward price for October fell from $1,850 to $1,750.
About two-thirds of the past week’s transactions occurred in a range of $1,596 to $2,667 per pound, according to the analysts at Cannabis Benchmarks. The analysts also commented on politics and the forward price curve:
Reports from the field this week revealed that plans for new and expanded cultivation operations are gaining more momentum than anticipated just a few weeks ago. Our analysts concluded that this fall harvest could see product enter the market from an additional 80 acres of newly planned – and previously unaccounted for – outdoor and light-deprived greenhouse grown flower across California, Oregon and Washington State. Depending upon plant size, and spacing for rows and irrigation, an acre typically produces about 2,000 pounds or more of harvested, dried and cured flower. Expectations for as much as 200,000 more pounds of flower this fall – with a wholesale value of roughly $400 million at current prices – helped to drive the October Forward down $100 to $1,750 per pound.
The analysts noted that in 2014 Colorado cultivators produced about 150,000 pounds of product.
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 $10.66 per gram, up 13 cents compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.45, ranging from a high of $12 a gram to a low of $8. In California the price is $14.46 per gram, ranging from $25 down to $6 per gram, while in Michigan the average price is $16.36 per gram in a range of $20 to $10. In Oregon the average is $10.61 per gram in a range of $21 to $4, and in Washington the average is $10.33 per gram, ranging from a high of more than $13 to a low of $6.