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Market Analysis July 2017

Curious to know how weed prices are looking across a variety of market areas in the industry? According to reports, all indices are up, excepting the Southern Index, which fell $3 price per ounce following a year-high average in June.

Here’s what they had to say:

Current US Price Index: $347 (last month: $335, Year-to-Date: $331)
Current Eastern Price Index: $358 (last month: $357, YTD: $352)
Current Southern Price Index: $366 (last month: $370, YTD: $363)
Current Western Price Index: $265 (last month: $256, YTD: $267)

Additionally listed were the top five strains, which were Kush ($345), Diesel ($352), Girl Scout Cookies ($368), Blue Dream ($320) and Haze ($337).

The highest American price listed in the indices was $420 for Girl Scout Cookies in Connecticuit, which has legal medical marijuana and decriminalized recreational. The lowest of the trans high market quotations listed was Querkle, at only $150 per ouce, hailing from Ridgeway, Colorado. Oregon’s trans high market quote clocked in relatively low on the list, at just $200 for an ounce of Mango.

Other important market shifts that are important to note from July include the sharp increase in wholesale marijuana prices in Nevada, a side effect of their new recreational cannabis program, which encountered issues during rollout. Nevada had originally decided that only wholesale alcohol distributors could transport recreational cannabis stock in the first 18 months of legality, but none were approved until two weeks into the program, just after a state of emergency was declared due to dispensaries running out of product, and emergency legislation was put into place to allow dispensaries to transport their own product. Some medical marijuana patients felt that their medicine had gone too high in price, and were even suggesting that some were returning to the black market for cheaper access.

Another chart that was published in July suggests that recreational cannabis dispensaries in Seattle and Denver, two of the largest recreational markets in the US, are primarily clustered in low-income neighborhoods, in part because those areas have more empty retail spaces, and landlords are less picky with tenants.

Ultimately, the industry had a healthy July. Let’s see what August brings.