🐄 Livestock Futures Positioning
CFTC weekly report · Report Date: 2026-03-17
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:
78,162
(-3,249)
·
Comm:
-65,271
3Y Percentile
37%
Latest Week
Speculator Net
78,162
Commercial Net
-65,271
Small Trader Net
-12,891
Long/Short Ratio
2.42
Open Interest
334,142
Total Traders
419
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:
8,873
(+681)
·
Comm:
-2,197
3Y Percentile
49%
Latest Week
Speculator Net
8,873
Commercial Net
-2,197
Small Trader Net
-6,676
Long/Short Ratio
1.43
Open Interest
72,644
Total Traders
295
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:
63,058
(-12,435)
·
Comm:
-53,899
3Y Percentile
70%
Latest Week
Speculator Net
63,058
Commercial Net
-53,899
Small Trader Net
-9,159
Long/Short Ratio
1.77
Open Interest
359,264
Total Traders
332
Milk Class III Futures
BEARISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BEARISH
Distribution phase — commercials selling Milk Class III into speculator demand.
Spec:
-5,468
(+45)
·
Comm:
7,925
3Y Percentile
39%
Latest Week
Speculator Net
-5,468
Commercial Net
7,925
Small Trader Net
-2,457
Long/Short Ratio
0.42
Open Interest
28,725
Total Traders
70
Cheese Futures
BEARISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BEARISH
Distribution phase — commercials selling Cheese into speculator demand.
Spec:
-9,193
(-493)
·
Comm:
9,009
3Y Percentile
11%
Latest Week
Speculator Net
-9,193
Commercial Net
9,009
Small Trader Net
184
Long/Short Ratio
0.05
Open Interest
31,204
Total Traders
89
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.