Companies and Brands
Marijuana Price Jumps 4.5% to $1,609 per Pound
Published:
Last Updated:
For the week ended Friday, October 14, the spot price index for a pound of cannabis increased 4.5% from $1,540 in the prior week to $1,609. According to the analysts at Cannabis Benchmarks, the simple average price for a gram dropped from $4.19 to $3.95.
The futures price for the near month (November) remained unchanged at $1,500. For the month of December, the forward price remained at $1,625 a pound. The six-month forward price (April) also remained unchanged at $1,815 a pound.
About two-thirds of the past week’s transactions occurred in a range of $1,313 to $2,274 per pound.
This week the analysts commented on forward pricing:
Despite the first small wave of the outdoor harvest beginning to reach market, the proportion of the total observed volume made up by such flower shrunk by 7% week-on-week, while the greenhouse production accounted for nearly half of all of the observed weight moved this week. … [T]his week’s uptick in the U.S. Spot Index is expected to be a short-term phenomenon as higher quality outdoor flower commands a higher price, in general, than any supplies that might remain on the market from last year’s outdoor harvest. However, this uptick signals the beginning of a supply surge that is anticipated to drive prices to their seasonal bottom over the coming weeks.
Implied forward prices are expected to reach their six-month peak in April at $1,815 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 $12.43 per gram, unchanged compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.39, ranging from a high of $25.00 a gram to a low of $3.50. In California the average price is $15.03 per gram, ranging from $27.19 down to $4.00 per gram, and in Michigan the average price is $14.05 per gram in a range of $25.00 to $5.00. In Oregon the average is $11.34 per gram in a range of $20 to $4.00, while in Washington the average is $10.59 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
