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Cannabis Benchmarks US Wholesale Cannabis Spot Index & Report for July 21

U.S. Cannabis Spot Index down 2.7% to $1,581 per pound.

The simple average (non-volume weighted) price increased $9 to $1,821 per pound, with 68% of transactions (one standard deviation) in the $1,027 to $2,615 per pound range. The average deal size decreased 3.2% to 7.9 pounds from 8.2 pounds last week. In grams, the Spot price was $3.49, and the simple average price was $4.01.

The influence of greenhouse product on the nation’s overall volume-weighted average subsided this week, as the relative volume of such flower contracted by 6% compared to last week. Most of the corresponding gain in that metric accrued to warehouse-grown product, which also saw a 5% week-over-week uptick in its relative frequency of observed transactions. Outdoor flower’s presence in our observations remained marginal, but its relative volume did increase slightly compared to the week prior.    

Warehouse flower this week increased its share of the total observed volume traded in California by about 6% compared to last week. Outdoor-grown product did the same, but by a slightly smaller magnitude. Consequently, greenhouse flower saw its portion of the total documented weight moved contract by 10% compared to last week. This week also saw trades for product grown under lamps increase in relative frequency, from about two-thirds of all observed deals last week to almost three-quarters this week. After being the object of a quarter of all reported transactions last week, greenhouse flower was traded in only a fifth of all documented deals this week.

After achieving a year-to-date high of $1,724 per pound in the final week of June, California’s Spot Index has been on the decline. This week saw the state’s composite volume-weighted average fall by 3.4% to settle at $1,558 per pound, down nearly 10% from the aforementioned annual high price recorded just three weeks ago. Still, this week’s Spot rate remains above the average composite price for the year thus far, which is currently $1,534 per pound. 

Indoor-grown flower continued to hover above the $1,800 per pound threshold, as it has for seven consecutive weeks at this point. However, this week did see a nearly 3% decline in volume-weighted average rates for such product, with some market participants remarking that they expected more to come as summer and fall wear on. 
Full report here
Posted in Other on July 21 at 11:57 AM

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