Consumer Products

Marijuana Price Drops 8% to $1,886

For the week ended Friday, July 8, the spot price index for a pound of cannabis decreased 7.9% from $2,049 in the prior week to $1,886. According to the analysts at Cannabis Benchmarks, the simple average price for a gram fell from $4.91 to $4.53.

The futures price for the near month (August) fell $100 to $2,040 per pound. For the month of September, the forward price fell from $2,120 to $2,020 a pound. The six-month forward price (January) rose to $1,825.

About two-thirds of the past week’s transactions occurred in a range of $1,513 to $2,595 per pound. Looking at forward pricing trends, the analysts had this to say:

Over the past few weeks, we have reported on the influx of outdoor grown flower being liquidated by cultivators with inventory remaining from last year’s harvest. As discussed in detail in our Spot commentary, the downward pressure exerted on wholesale prices by these supplies is now being accentuated by the arrival of the season’s first light deprived harvests from greenhouses. This confluence of supplies ahead of the larger fall harvest is driving declines in the near-term forward market.

Implied forward prices are expected to reach their peak in August at $2,040 a pound (down $100 from the prior estimate) before dropping to $1,650 in November.

Our price check at MJCharts indicates prices range from $27.19 a gram to a low of $3.00 in the all-cities index. The all-cities index price is $12.25 per gram, down two cents compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.41, ranging from a high of $25 a gram to a low of $3.50. In California the price is $15.31 per gram, ranging from $27.19 down to $4.21 per gram, while in Michigan the average price is $14.25 per gram in a range of $25.00 to $5.00. In Oregon the average is $10.83 per gram in a range of $20.00 to $3.00, and in Washington the average is $10.63 per gram, ranging from a high of $21.00 to a low of $4.00.

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.