The U.S. Cannabis Spot Index down 1.3 percent to $1,157 per pound. The simple average (non-volume weighted) price decreased by $31 to $1,319 per pound, with 68 percent of transactions (one standard deviation) in the $578 to $2,060 per pound range. The average deal size was nominally unchanged at 5.6 pounds. In grams, the Spot price was $2.55, and the simple average price was $2.91.
The relative frequency of trades for indoor-grown flower shrank by four percent week-over-week; that for greenhouse product saw a four percent increase, while transactions involving outdoor flower grew in frequency by one percent compared to last week.
The relative volumes of the two sun-fueled grow types also expanded week-over-week, albeit modestly, by just one percent each. As a result, warehouse product’s share of the total documented weight moved nationally contracted by two percent compared to last week.
A small decrease in the national volume-weighted price for indoor product overwhelmed slight rises in the going rates for greenhouse and outdoor flower to establish a new all-time low national composite price.
Average deal sizes on the national level were fairly steady for the most part this week, with trades for greenhouse product experiencing the largest proportional shift.
August forward, unchanged at $1,300 per pound. The average forward deal increased one pound to 67 pounds. The proportion of forward deals for outdoor, greenhouse, and indoor-grown flower represented 44 percent, 41 percent, and 14 percent of forward arrangements, respectively.
The average forward deal size for monthly delivery for outdoor, greenhouse, and indoor-grown flower was 77 pounds, 62 pounds, and 48 pounds, respectively.
At $1,300 per pound, the August Forward represents a premium of 12.4 percent relative to the current US Spot Price of $1,157 per pound.
The premium or discount for each forward price, relative to the US Spot Index, is illustrated in the table below.