🐄 Livestock Futures Positioning
CFTC weekly report · Report Date: 2026-05-12
Live Cattle Futures
BULLISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BULLISH
Commercials accumulating Live Cattle while speculators exit — smart money positioning bullish.
Spec:
94,505
(-9,214)
·
Comm:
-77,777
3Y Percentile
58%
Latest Week
Speculator Net
94,505
Commercial Net
-77,777
Small Trader Net
-16,728
Long/Short Ratio
2.49
Open Interest
354,995
Total Traders
398
Feeder Cattle Futures
BULLISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BULLISH
Commercials accumulating Feeder Cattle while speculators exit — smart money positioning bullish.
Spec:
6,003
(-3,455)
·
Comm:
-853
3Y Percentile
39%
Latest Week
Speculator Net
6,003
Commercial Net
-853
Small Trader Net
-5,150
Long/Short Ratio
1.25
Open Interest
63,956
Total Traders
259
Lean Hogs Futures
BULLISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BULLISH
Commercials accumulating Lean Hogs while speculators exit — smart money positioning bullish.
Spec:
-2,334
(-8,785)
·
Comm:
5,355
3Y Percentile
32%
Latest Week
Speculator Net
-2,334
Commercial Net
5,355
Small Trader Net
-3,021
Long/Short Ratio
0.97
Open Interest
321,286
Total Traders
339
Milk Class III Futures
BULLISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BULLISH
Commercials accumulating Milk Class III while speculators exit — smart money positioning bullish.
Spec:
-6,514
(-992)
·
Comm:
9,120
3Y Percentile
21%
Latest Week
Speculator Net
-6,514
Commercial Net
9,120
Small Trader Net
-2,606
Long/Short Ratio
0.27
Open Interest
26,794
Total Traders
78
Cheese Futures
BULLISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BULLISH
Commercials accumulating Cheese while speculators exit — smart money positioning bullish.
Spec:
-7,998
(-48)
·
Comm:
8,043
3Y Percentile
20%
Latest Week
Speculator Net
-7,998
Commercial Net
8,043
Small Trader Net
-45
Long/Short Ratio
0.02
Open Interest
27,241
Total Traders
75
How to Read COT Data
Speculators (Non-Commercial)
Hedge funds, CTAs, and momentum traders. They follow trends and amplify moves. When their positioning reaches extremes, it often signals the trend is crowded and vulnerable to reversal.
Commercials (Hedgers)
Producers, refiners, and consumers who use futures to hedge their business. They tend to be contrarian — selling into rallies and buying dips. At extremes, they're historically on the right side.
The Percentile Bar
Shows where current speculator positioning ranks vs. the past 3 years. Above 80% = historically bullish, below 20% = historically bearish. Extremes (top/bottom 10%) are the highest-signal readings.
What To Watch For
The best signals come from extreme positioning + divergence: when speculators are max long but commercials are max short, it often precedes a reversal. The weekly change shows who's adding or liquidating.
Source: U.S. Commodity Futures Trading Commission (CFTC) Commitments of Traders reports. Data is published weekly with a 3-day lag.