By Matt Phillips
Here at MarketBeat, we keep our eyes on some pretty obscure indexes. But we have to admit, the The High Times indices of cannibis prices is one data set that does not regularly flicker on our screens. Smart Money’s Jack Hough offers us this update on pot prices, which interestingly have been lagging the overall boom in crop prices.
What’s clear from the numbers is that prices are looking lazy. The High Times index for “kind” (superior) cannabis fell 4% in the year through January, while the “mids” index fell 6%. January marked the first month that no reader submitted a price for “schwag,” or inferior, cannabis. The broad U.S. Price Index increased nearly 3% over the past year, presumably because respondents have traded up to better weed.
Read complete article here:
http://blogs.wsj.com/marketbeat/2011/02/28/weed-getting-cheaper-postcard-from-the-pot-market/