The U.S. Cannabis Spot Index increased 2.7% to $1,050 per pound.
In grams, the Spot price was $2.31.
Both Maryland and Vermont saw their state wholesale price assessments rebound from significant declines last week. Maryland’s 2024 average price is down over 11% from the December 2023 average.
Oregon indoor flower pricing saw a 12% jump this week with an increase in transactions in the top quartile along with a decrease in large volume lower priced deals.
Volatility in the Oklahoma market continues as low-priced greenhouse grown flower transactions increase in frequency, pushing the state composite price down over 11%.
At $1,050 per pound, the U.S. Spot Index is down 2.5% this year from the 2023 closing price of $1,077, and averaging $1,025 per pound. The low of $991 and the high of $1,072 were established just two weeks apart, on March 8th and March 22nd, respectively. Year-to-date, the U.S. Spot Index remains in an $81 range. For the same period last year, the Index averaged $1,010 and spanned a range of $144 (with a low of $952 and a high of $1,096).
July 2024 Implied Forward unchanged at $1,050 per pound.
At $1,050 per pound, the July Implied Forward is flat relative to the current U.S. Spot Price of $1,050 per pound.
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