For the week ended Friday, April 7, 2017, the spot price index for a pound of cannabis decreased by 0.2% from $1,682 in the prior week to $1,679. According to the analysts at Cannabis Benchmarks, the simple average price for a gram also fell, from $4.12 to $4.00.
The futures price for the near-month (May) rose $25 to $1,750. For the month of June, the forward price remained unchanged at $1,725. The six-month forward price (October) was established at $1,535 a pound.
About two-thirds of the past week’s transactions occurred in a range of $1,104 to $2,524 per pound.
The analysts had additional comments this week about the dip in the spot price:
After four consecutive weeks of price rises, the U.S. Spot Index ticked downward very slightly this week to just over $1,675 per pound. The decrease in the composite rate defied the fact that all three grow types saw increases in their volume-weighted averages; although, like the U.S. Spot, pricing for indoor flower was virtually flat. Ultimately, the increased share of the total observed volume traded made up by lower-priced outdoor product caused the overall decline.
Indoor flower prices ranged from $800 to $6,500 per pound, with the median price at $1,900. Greenhouse flower prices ranged from $1,000 to $3,250 per pound, and the median price was $1,242. Outdoor flower prices ranged from $800 to $1,700 per pound, while the median price was $1,350.
For a wide-angle look at the cannabis industry, see our report on the largest companies in the marijuana business.
We also have a detailed look at the first cannabis industry exchange-traded fund (ETF). Horizons Medical Marijuana Life Sciences ETF began trading on the Toronto Stock Exchange last week under the ticker symbol HMMJ.
Our price check at MJCharts indicates prices range from $22.00 a gram to a low of $3.00 in the all-cities index. The all-cities index price is $11.09 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 $11.94, ranging from a high of $15.00 a gram to a low of $8.00. In California the average price is $14.42 per gram, ranging from $22.00 down to $11.00 per gram, while in Michigan the average price is $15.45 per gram in a range of $20.00 to $10.00. In Oregon the average is $11.02 per gram in a range of $21.00 to $3.00. Data for Washington state were not available again this week.