The U.S. Cannabis Spot Index increased 2.9% to $971 per pound.
In grams, the Spot price was $2.14.
The California Cannabis Spot Index increased for the 5th week in a row, climbing 10.7% per pound this week. Volume weighted price increases across all grow types contributed to the positive state composite movement, with outdoor grown flower seeing the largest percentage increase at 9.3%.
Wholesale cannabis prices in Delaware saw the largest percentage increase of the 22 state markets reported on by Cannabis Benchmarks this week, increasing by 11.3% per pound this week. The large increase was driven primarily by bulk flower transactions both increasing in average price and in total percentage of documented transactions. Pricing compression amongst smaller markets in the Northeast continues, with wholesale prices in Connecticut, Delaware, Maryland, and Washington D.C. all tightening as we head towards the final weeks of 2024.
Wholesale cannabis prices in Pennsylvania continue to decline, this week by 6.5% per pound. This marks the 6th week of declining prices in the state. Over this time, the state index has lost 27.7%.
January 2025 Implied Forward unchanged at $980 per pound.
At $980 per pound, the January 2025 Implied Forward represents a premium of 1.0% relative to the current U.S. Spot Price of $971 per pound.
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