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U.S. Cannabis Spot Index

U.S. Cannabis Spot Index — December 4, 2020

U.S. Cannabis Spot Index — Published December 4, 2020

U.S. Cannabis Spot Index down 3.8% to $1,534 per pound.

The simple average (non-volume weighted) price decreased $12 to $1,834 per pound, with 68% of transactions (one standard deviation) in the $1,106 to $2,562 per pound range. The average reported deal size increased from 2.3 pounds to 2.5 pounds. In grams, the Spot price was $3.38 and the simple average price was $4.04.

The relative frequency of trades for indoor flower decreased by almost 2%. The relative frequencies of deals for greenhouse and outdoor product increased by about 1% each.

The relative volume of outdoor flower expanded by 6% this week. The relative volumes of warehouse and greenhouse product contracted by 3% each.

With the end of 2020 approaching, a look back on our year-to-date wholesale price assessments reveals some interesting and surprising trends. The chart below shows the course of the U.S. Spot Index since Cannabis Benchmarks first began assessing this data point in April 2015.

Perhaps most notably, the behavior of the U.S. Spot in 2020 displays strong similarities to the course charted in 2019, despite the disruption caused by the COVID-19 pandemic this year. In both 2019 and 2020, the national composite price opened the year on a downward trend due to increased supplies of outdoor flower from the prior year’s fall harvest. The U.S. Spot began to climb in the spring in both years; in 2019 this ascent started in late March, in 2020 it would not commence until late May.

Additionally, a downturn in wholesale flower prices began in November with the autumn harvest both last year and this year, but 2020’s started earlier and has so far been more dramatic. This is somewhat surprising given significantly elevated demand and sales revenues in 2020, as well as questions surrounding the fall crop due to the severe wildfires that ravaged the West Coast.

Another surprise in this year’s data is that the ascent of the U.S. Spot in 2020 has so far not matched the magnitude of the wholesale price recovery observed in 2019. Regardless, the 10% year-to-date increase from the assessed price at the start of the year represents a notable rise, especially following the U.S. Spot’s climb in 2019. Barring a large downturn in the coming weeks, it appears likely that 2020 will be the second straight time that the U.S. Spot will close the year higher than at its outset. In the first three full years that Cannabis Benchmarks assessed wholesale flower prices, the national average ended each year off from where it started, often by a large margin.

June 2021 Implied Forward initially assessed at $1,600 per pound.

The average reported forward deal size was 32 pounds. The proportions of forward deals for outdoor, greenhouse, and indoor-grown flower were 43%, 34%, and 23% of forward arrangements, respectively. The average forward deal sizes for monthly delivery for outdoor, greenhouse, and indoor-grown flower were 45 pounds, 19 pounds, and 28 pounds, respectively.

At $1,565 per pound, the January Implied Forward represents a premium of 2.0% relative to the current U.S. Spot Price of $1,534 per pound. The premium or discount for each Forward price, relative to the U.S. Spot Index, is illustrated in the table below.

CANADA CANNABIS SPOT INDEX

WHOLESALE MARKET OBSERVER

Arizona Medical Marijuana Sales Spike Prior to New Testing Requirement Implementation

Colorado Retail Marijuana Sales in 2020 Top $1.6 Billion Through September

HEMP MARKET INSIDER

Hemp Market Participants Assess Impact of 2020 Harvest, Look Ahead to 2021

November 2020 Hemp Spot Price Index Report

Headlines from this week’s Premium Report:

Newly-Released Q3 Cannabis Tax Revenues Show Continued Growth in Retail and Wholesale Sectors of Legal Market

Los Angeles Identifies 200 Retail License Applicants Eligible for Further Processing, Temporary Approval to Operate

Retail Revenues Through November Top $1B, but Monthly Sales in Autumn Down from Summer

New Adult-Use Delivery License Types and Other Rules Approved by Regulators; Industry Group Threatens Litigation

Are you a licensed market participant in the U.S. or Canada?

Do you support wholesale market transparency?

Become a member of our Price Contributor Network and receive discounted pricing and exclusive analysis!

Cannabis Benchmarks®, a division of New Leaf Data Services, LLC

4 December 2020. Copyright © 2020 New Leaf Data Services, LLC. All rights reserved

U.S. Cannabis Spot Index — November 27, 2020

U.S. Cannabis Spot Index — Published November 27, 2020

U.S. Cannabis Spot Index down 0.5% to $1,594 per pound.

The simple average (non-volume weighted) price increased $19 to $1,846 per pound, with 68% of transactions (one standard deviation) in the $1,131 to $2,561 per pound range. The average reported deal size increased to 2.3 pounds. In grams, the Spot price was $3.51 and the simple average price was $4.07.

The relative frequency of trades for greenhouse flower decreased by 3%. The relative frequency of deals for indoor product increased by the same proportion, while that for transactions for outdoor flower was unchanged.

The relative volume of warehouse flower expanded by almost 2% this week. The relative volume of greenhouse product contracted by the same proportion, while that for outdoor flower was stable.

The U.S. Spot Index averaged $1,621 per pound in November, off by 1.3% from the mean price of $1,642 per pound observed last month. November is the first month to see a downturn in its average national composite price since May of this year, in the early months of the COVID-19 pandemic when record-breaking sales that extended into the summer – and autumn in some cases – were just beginning to pick up.

Notably, rates for each individual grow type on the national level were up in November relative to the prior month. The overall downturn in the U.S. Spot was due to increased proportions of lower-priced outdoor flower from this year’s harvest making its way to market.

Additionally, the Spot Indices of some of the country’s largest state markets – namely California, Colorado, Oregon, and Washington – have begun to trend downward recently. We have seen sales level off in those states – and others – after peaking in the mid-late summer. The four aforementioned markets are also the ones where outdoor cultivation is most prevalent and the largest volumes of flower are traded.

December Implied Forward closes unchanged at $1,590 per pound.

The average reported forward deal size was 31 pounds. The proportions of forward deals for outdoor, greenhouse, and indoor-grown flower were 46%, 32%, and 22% of forward arrangements, respectively. The average forward deal sizes for monthly delivery for outdoor, greenhouse, and indoor-grown flower were 41 pounds, 18 pounds, and 27 pounds, respectively.

At $1,590 per pound, the December Forward represents a discount of 0.2% relative to the current U.S. Spot Price of $1,594 per pound. The premium or discount for each Forward price, relative to the U.S. Spot Index, is illustrated in the table below.

CANADA CANNABIS SPOT INDEX

WHOLESALE MARKET OBSERVER

Colorado Retail Marijuana Sales in 2020 Top $1.6 Billion Through September

Return of Tourists Boosts Nevada Retail Sales to Record Highs

HEMP MARKET INSIDER

November 2020 Hemp Spot Price Index Report

Greener Pastures: Hemp’s Potential as Livestock Feed

Headlines from this week’s Premium Report:

State Working Toward Changing Product Testing Rules, Including Adding Screenings for Heavy Metals and Mycotoxins

Rulemaking to Implement New Mandatory Testing and Allow Tier 1 Producers to Expand Continues

State Officials Release Instructions on Applying for Adult-Use Licenses; Recreational Market Will Open to Any Eligible Applicant Beginning March 2021

Sales Volume Figures Jump to New Record in October; Wholesale Prices Rise on Strong Demand and New Required Testing

Are you a licensed market participant in the U.S. or Canada?

Do you support wholesale market transparency?

Become a member of our Price Contributor Network and receive discounted pricing and exclusive analysis!

Cannabis Benchmarks®, a division of New Leaf Data Services, LLC

27 November 2020. Copyright © 2020 New Leaf Data Services, LLC. All rights reserved

U.S. Cannabis Spot Index — November 20, 2020

U.S. Cannabis Spot Index — Published November 20, 2020

U.S. Cannabis Spot Index down 2.4% to $1,603 per pound.

The simple average (non-volume weighted) price decreased $29 to $1,827 per pound, with 68% of transactions (one standard deviation) in the $1,124 to $2,529 per pound range. The average reported deal size was nominally unchanged at 2.2 pounds. In grams, the Spot price was $3.53 and the simple average price was $4.03.

The relative frequency of trades for greenhouse flower expanded by 3%. The relative frequency of deals for indoor product decreased by the same proportion, while that for transactions for outdoor flower was unchanged.

The relative volume of warehouse flower contracted by almost 5% this week. The relative volumes of greenhouse and outdoor product expanded by about 1% and 4%, respectively.

The U.S. Spot Index has leveled off in the first three weeks of this month on slowing sales growth in numerous major markets, as well as new supply from this year’s autumn crop beginning to make its way to market in the West Coast states and Colorado.

As Thanksgiving and the end-of-year holidays approach, the COVID-19 pandemic is reaching new levels of severity in the U.S. This has resulted in many states and localities with legal cannabis markets tightening restrictions recently. Based on data and observations from earlier this year, when even more strict coronavirus-related restrictions were implemented and sales soared to record levels, we do not expect that the current situation will on its own suppress demand in legal markets. Legal cannabis businesses were also declared essential and permitted to remain open during lockdowns imposed in the spring – with the exception of adult-use retailers in Massachusetts – and there have been no signs yet that state regulators are contemplating a different position should new stay-at-home orders be issued in the coming weeks.

On the other hand, no new stimulus or relief legislation has been forthcoming from the federal government since March. New restrictions on businesses could result in more furloughed and laid-off workers. Additionally, a “ benefits cliff ” will occur the day after Christmas for certain types of pandemic-related unemployment insurance unless Congress and the President act to renew it. Notably, however, these larger economic trends have not negatively impacted legal cannabis demand to this point.

U.S. Cannabis Spot Index U.S. Cannabis Spot Index — December 4, 2020 U.S. Cannabis Spot Index — Published December 4, 2020 U.S. Cannabis Spot Index down 3.8% to $1,534 per pound. The

2020 Quarter Cannabis Prices

Lisa Weinberger
Apr 3 · 4 min read

The national average cost for a quarter of weed is around $68. That’s about $6 cheaper than it was at this time last year when you could pick up a quarter for an average of $74. But what you’ll pay for a quarter really depends on where you live, the season and various other factors.

For example, the average price for a quarter of marijuana in Las Vegas is about $84. In Denver, it’s $54. And in Los Angeles, it’s $65.

The amount you’ll s p end on a quarter also largely varies by the strain that you’re buying and the quality. A popular strain like Blue Dream, for example, may run you more in some cities than others, depending on availability, grower and other factors.

Undoubtedly, finding the best prices on a particular strain of cannabis or cannabis products can be difficult to do.

In order to help you stretch your dollar at the dispensary, we’ve done the math and broken down the cost for a quarter of marijuana in nine cities throughout the nation. We’ve also located where you can find some of the best deals.

Here’s the average price for a quarter of weed in nine cities:

  • National average: 68
  • Denver: $54
  • Seattle: $57
  • Los Angeles: $65
  • Portland: $53
  • San Francisco: $83
  • Phoenix: $54
  • Chicago: $90
  • Fort Collins: $61
  • Las Vegas: $84

1. Price for a quarter in Denver

Expect to pay around $54 for a quarter in Denver — that’s the average for all recreational. But several dispensaries offering better deals.

In fact, you can find a quarter in Denver for an average as low as $40.

Dispensaries to check out:

Kaya Cannabis $40

The Pig N Whistle $41

2. Price for a quarter in Seattle

You can pick up a quarter of cannabis in Seattle for around $57. Shopping around can save you somewhere around $3 per quarter.

Dispensaries to check out:

Herban Legends $62

Cannabis City $62

3. Price of a quarter in Portland

The average of a quarter in Portland is about $53. But it’s worth shopping around in the area, especially for Portland’s most popular strains like Blue Dream, Skywalker and Gorilla Glue.

Dispensaries to check out:

Floyd’s Fine Cannabis $45

Oregon Grown $47

4. Price of a quarter in Los Angeles

You can expect to pay around $65 for a quarter of cannabis in Los Angeles. But make sure to check at a number of dispensaries before you decide to buy.

Look around for great deals on popular strains — Blue Dream, OG Kush and Sour Diesel.

Interested in knowing which dispensaries are offering adult-use cannabis? Check our list of recreational dispensaries in Los Angeles.

Dispensaries to check out:

The Relief Collective $55

5. Price of a quarter in San Francisco

The average price of a quarter in San Francisco is around $83. But finding better-than-average deals in the area isn’t tough. You can save around $25 or more per month by comparison shopping, assuming you pick up a quarter per week.

Dispensaries to check out:

Grass Roots Collective $65

6. Price of a quarter in Phoenix

You can expect to pay around $54 for a quarter of weed in Phoenix. But that’s the average. There are dispensaries offering a quarter for much less.

Dispensaries to check out:

The Nirvana Center $59

Nature’s Medicine $55

7. Price for a quarter in Chicago

The average for a quarter in Chicago is around $90. But as you can see below, there are several dispensaries offering deals below that average.

Dispensaries to check out:

Columbia Care Dispensary $80

8. Price for a quarter in Fort Collins

On average, you’ll pay about $61 for a quarter in Fort Collins.

Fortunately, there are better deals to be had. Simply shopping around in Fort Collins can save you $240 or more per year. And that’s if you’re only buying a quarter per month.

Dispensaries to check out:

LiveWell Enlightened Health $53

9. Price for a quarter in Las Vegas

The average price for a quarter of cannabis in Las Vegas is about $84. Of course, comparison shopping can save you some cash.

You’ll find some dispensaries offering at least $30 less, on average, for a quarter.

It’s worth noting that Nevada recently (2017) made recreational marijuana legal. And while there aren’t yet a lot of dispensaries offering recreational marijuana, there are a few worth checking out.

Take a look at our post on Las Vegas marijuana prices for more info.

Dispensaries to check out:

Cultivate Dispensary $55

Silver Sage Wellness $59

Here’s the average price for a quarter of weed over time:

Comparison Shopping

Comparison shopping is crucial when it comes to cannabis. It’s no different than shopping for a great rate on a car loan or mortgage. You can save thousands of dollars a year simply by shopping around.

You can use our search tool to find prices in your area of the country.

Finding deals

Many dispensaries offer daily, weekly and monthly deals on certain quantities and strains.

In addition, remember that becoming a member at your favorite dispensary can save you some major cash on your favorite strains over the long-haul. You can save somewhere around 10% on purchases just by becoming a member.

Keep in mind that dispensaries quickly run out of the most popular strains. Give your local dispensary a call, or email, to see if they have a particular strain in stock before you make the trip.

The national average cost for a quarter of weed is around $68. That’s about $6 cheaper than it was at this time last year when you could pick up a quarter for an average of $74. But what you’ll pay…