Companies and Brands
Marijuana Price Slips 1.3% to $1,612 per Pound
Published:
Last Updated:
For the week ended Friday, September 23, the spot price index for a pound of cannabis decreased 1.3% from $1,633 in the prior week to $1,612. According to the analysts at Cannabis Benchmarks, the simple average price for a gram dipped from $4.28 to $4.25.
The futures price for the near month (October) was unchanged at $1,525 per pound. For the month of November, the forward price remained at $1,500 a pound. The six-month forward price (March) also remained unchanged at $1,750.
About two-thirds of the past week’s transactions occurred in a range of $1,392 to $2,461 per pound.
Looking at conditions in the futures market, the analysts had this say:
[I]t remains to be seen if the steep decline in the national Spot Price that took place this summer as a result of large amounts of greenhouse product coming to market will result in a less pronounced decline due to the outdoor harvest season. However, despite the possibility of unfavorable weather conditions come November for growers in southern Oregon and northern California, … it appears that supply will be characteristically robust in the harvest season, especially in California, Colorado, and Washington. Oregon remains a wild card in terms of supply, and not only due to weather conditions. It appears that beginning next month, only a handful of testing labs will be online to approve large volumes of product for sale.
Implied forward prices are now expected to reach their six-month peak in March at $1,750 a pound. The six-month low is expected to be $1,500 in November.
Our price check at MJCharts indicates prices range from $27.19 a gram to a low of $3.50 in the all-cities index. The all-cities index price is $12.41 per gram, up three cents compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.40, ranging from a high of $25.00 a gram to a low of $3.50. In California the average price is $15.10 per gram, ranging from $27.19 down to $4.21 per gram, and in Michigan the average price is $13.91 per gram in a range of $25.00 to $5.00. In Oregon the average is $11.31 per gram in a range of $20.00 to $4.00, while in Washington the average is $10.60 per gram, ranging from a high of $21.00 to a low of $4.00.
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
