The U.S. Cannabis Spot Index increase 0.3% to $891 per pound.
In grams, the Spot price was $1.96.
The Oregon Cannabis Spot Index continued to trend downward this week, losing 4.5% per pound. This week’s state price assessment is the lowest on record since the spring of 2019. That period was defined by a bumper outdoor crop the preceding fall resulting in a surplus of low-priced outdoor grown flower applying heavy downward pricing pressure on higher quality indoor and greenhouse grown flower, forcing all market participants to lower prices to compete for shelf space. This week, indoor grown flower prices are driving the composite decline, as a significant number of large volume trades occurred at a lower price while many smaller, higher priced trades occurred simultaneously.
After reaching an all-time low last week, the Arizona Cannabis Spot Index experienced positive pricing movement this week, gaining 4.8% per pound. Both indoor and greenhouse grown flower prices rose, by 0.6% and 2.0%, respectively.
Indoor and greenhouse grown flower prices in Massachusetts both had declining wholesale prices this week, with the Massachusetts Indoor Cannabis Spot Index dropping 4.6% and the Massachusetts Greenhouse Cannabis Spot Index losing 5.2%. These losses pushed the state composite price down 5.3% per pound, marking an all-time low for the Massachusetts Cannabis Spot Index.
February 2025 Implied Forward unchanged at $930 per pound.
At $930 per pound, the February Implied Forward represents a premium of 4.4% relative to the current U.S. Spot Price of $891 per pound. At 40 pounds, the average forward deal size is roughly 36% lower than one year ago.
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