As of last Friday, September 9, the marijuana price index for a pound of pot increased by 1% from the week prior, maxing out at an average of $1,653 per pound, and leaving the simple average price for a gram of weed at just under $4.20.
Per the analysts at Cannabis Benchmarks, the projected price for marijuana futures remained unchanged for October, at $1,525 per pound. As for November, the anticipated forward price held steady at $1,500 a pound. Looking at Spring 2017, the six-month marijuana price index remained unchanged at $1,750. As shown in the above chart, the U.S. Marijuana Price Index for greenhouse grown flower lifted from last week’s price of $1,405 per pound to $1,463 per lb. Meanwhile, the price for marijuana cultivated outdoors experienced a dramatic decline falling from $1,163 per pound to $1,056 per pound.
After examining the current conditions in the marijuana futures market, the analysts concluded:
“As we have noted over the past few months, large volumes of outdoor and light-deprived greenhouse grown flower began flooding western markets in the summer. Average deal sizes for outdoor and greenhouse flower increased to 41 and 21 pounds, respectively; and volume weighted prices began to decline. During this post-peak period, simple average prices also began declining, but not as rapidly as the volume weighted averages. The result is that the spread has been trending up. This indicates that buyers of smaller lots are benefiting from declining prices, but not as much as buyers of larger lots.”
With an average deal size of 15.8 pounds, 73% of the past week’s marijuana transactions were for indoor grown weed, while greenhouse cultivated flower captured 22% of the market share, with outdoor herb captured only 5% of the overall market share.
(Photo Courtesy of Allie Beckett)
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