The average price for a pound of marijuana cultivated in the U.S. fell 3.1% from the week prior to $1,637 per pound.
According to Cannabis Benchmarks, those indoor cultivators that properly cured and stored their best buds for distribution in the post-Labor Day market can expect to sell their flower for approximately $2,000 a pound at their local dispensary; with low-grade indoor selling for approximately $1,000 a pound and high-grade indoor selling for approximately $3,000.
As shown in the above chart, the U.S. Marijuana Price Index for greenhouse bud slid to a year-to-date low of just over $1,400 per lb. Falling sharply from its year-to-date high of $2,079 and vacillating from its mid-July average of $1,679 per pound, the U.S. Marijuana Price Index has so far averaged $1,914 per pound for 2016.
Per the report,“The U.S. Spot Index ticked down slightly this week to $1,637 per pound, the continuation of a slow but steady decrease in overall rates for cannabis flower that began in mid-August. This is a drastic departure from last year’s observed trends, which saw a dramatic price rise in the overall U.S. Spot Index during the same time period. Between August 14th and September 11th of 2015, the nationwide composite rate for a pound of cannabis flower rose from $1,709 to $2,133, which ended up being the last year’s highest weighted average price. The stark difference between the U.S. Spot and its current direction compared to last year illustrates the extent to which the market landscape has developed and changed in just one year.”
Down 5% from last week, indoor cannabis products represented 50% of all transactions for the week ending August 19. Wary of the fickle temperament of Mother Nature, many cultivators and dispensary owners are concerned that increased precipitation and decreased nighttime temperatures will significantly reduce the overall yields of America’s skilled marijuana cultivators for 2016.
(Photo courtesy of Allie Beckett)
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