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24/7 Wall St.: Week Sees Very Slight Rise In Pot Prices

24/7 Wall Street released their latest numbers on the current state of pot prices for the week that ended on Friday, June 26th. The spot price index for a pound of cannabis rose 1{f1d755e3d686d84b3fba3fb9da3bc25d6eb08724c18385fd50146d58c836a6dd} to $1,717, compared with the week before, while the futures price for December 2015 rose to $1,350, up $100 from week-ago levels.

According to the analysts at Cannabis Benchmarks, about two-thirds of the past week’s transactions fell in a range of $1,476 to $1,958 per pound, and about half of sales fell in the range of $1,600 to $1,900.

Growers expect average monthly prices to peak at $1,875 a pound in August, just before harvesting of the new crop begins. Availability of water has pushed the October price to $1,600. According to 24/7 Wall Street’s price check at PriceOfWeed.com, there was little change over the past week. The average price for an ounce of high-quality marijuana in Colorado is currently $241.19, up five cents from last week. In California the price of high-quality marijuana is $241.95 (up two cents), compared with $297.03 (up a penny) in Florida, $317.09 (down a penny) in Georgia, $326.01 (down five cents) in Texas and $231.75 (down three cents) in Washington. Meanwhile, the July price for a pound of cannabis rose by $10 to $1,790 a pound.

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Richard Lowe

Richard Lowe is a 14-year veteran of the financial sector with licenses as a commodity broker (Series 3) and investment advisor representative (IAR Series 65). Along with a focus on raising capital for the firms he was employed with, he also wrote and edited much of the content published by them. He holds a BA in Journalism from the University of Massachusetts. He has been a longtime advocate for marijuana legalization due to the social injustices associated with marijuana prohibition and the strong potential for the medicinal benefits of cannabis.

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