Katelyn Baker
Well-Known Member
For the week ended Friday, June 17, the spot price index for a pound of cannabis decreased 2.2% from $2,023 in the prior week to $1,978. The simple average price for a gram fell from $4.90 to $4.70.
The futures price for the near month (July) dropped $25 to $2,115 per pound. For the month of August, the forward price fell from $2,200 to $2,180 a pound. The six-month forward price for December remained unchanged at $1,725.
About two-thirds of the past week's transactions occurred in a range of $1,594 to $2,671 per pound, according to the analysts at Cannabis Benchmarks. Looking at forward pricing trends, the analysts had this to say:
This week's forward deals were reported from California, Colorado, Oregon and Washington — which represented 81% of the forwards — as well as Nevada, Arizona, Michigan and Maine.
Some buyers commented that they entered into forward arrangements specifically to obtain certain strains that are currently sold out in their respective markets. Another buyer noted entering into a 5-month contract to eliminate the worry of securing supplies while they await the build-out of a new cultivation facility. One California seller of outdoor flower reached an agreement to liquidate their supplies in monthly 25-pound increments between now and October in order to ensure cash flow during the final weeks leading up to the harvest.
Implied forward prices are expected to reach their peak in August at $2,180 a pound (down $20 from the prior estimate) before dropping to $1,650 in November.
Our price check at MJCharts.com indicates prices range from $27.19 a gram to a low of $2 in the all-cities index. The all-cities index price is $12.30 per gram, up four cents compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.44, ranging from a high of $25 a gram to a low of $3.50. In California the price is $15.35 per gram, ranging from $27.19 down to $5 per gram, while in Michigan the average price is $14.06 per gram in a range of $25 to $5. In Oregon the average is $10.85 per gram in a range of $25 to $3, and in Washington the average is $10.71 per gram, ranging from a high of $21 to a low of $4.55.
News Moderator: Katelyn Baker 420 MAGAZINE ®
Full Article: Marijuana Price Drops Below $2,000
Author: Paul Ausick
Contact: 917-865-2143
Photo Credit: Shutterstock
Website: 24/7 Wall Street
The futures price for the near month (July) dropped $25 to $2,115 per pound. For the month of August, the forward price fell from $2,200 to $2,180 a pound. The six-month forward price for December remained unchanged at $1,725.
About two-thirds of the past week's transactions occurred in a range of $1,594 to $2,671 per pound, according to the analysts at Cannabis Benchmarks. Looking at forward pricing trends, the analysts had this to say:
This week's forward deals were reported from California, Colorado, Oregon and Washington — which represented 81% of the forwards — as well as Nevada, Arizona, Michigan and Maine.
Some buyers commented that they entered into forward arrangements specifically to obtain certain strains that are currently sold out in their respective markets. Another buyer noted entering into a 5-month contract to eliminate the worry of securing supplies while they await the build-out of a new cultivation facility. One California seller of outdoor flower reached an agreement to liquidate their supplies in monthly 25-pound increments between now and October in order to ensure cash flow during the final weeks leading up to the harvest.
Implied forward prices are expected to reach their peak in August at $2,180 a pound (down $20 from the prior estimate) before dropping to $1,650 in November.
Our price check at MJCharts.com indicates prices range from $27.19 a gram to a low of $2 in the all-cities index. The all-cities index price is $12.30 per gram, up four cents compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.44, ranging from a high of $25 a gram to a low of $3.50. In California the price is $15.35 per gram, ranging from $27.19 down to $5 per gram, while in Michigan the average price is $14.06 per gram in a range of $25 to $5. In Oregon the average is $10.85 per gram in a range of $25 to $3, and in Washington the average is $10.71 per gram, ranging from a high of $21 to a low of $4.55.
News Moderator: Katelyn Baker 420 MAGAZINE ®
Full Article: Marijuana Price Drops Below $2,000
Author: Paul Ausick
Contact: 917-865-2143
Photo Credit: Shutterstock
Website: 24/7 Wall Street
