🐄 Livestock Futures Positioning
CFTC weekly report · Report Date: 2026-09-01
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:
27,380
(-8,466)
·
Comm:
-19,293
3Y Percentile
2%
Latest Week
Speculator Net
27,380
Commercial Net
-19,293
Small Trader Net
-8,087
Long/Short Ratio
1.42
Open Interest
300,731
Total Traders
372
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. Open interest collapsing — unusual volume.
Spec:
-2,729
(+2,776)
·
Comm:
4,221
3Y Percentile
16%
Latest Week
Speculator Net
-2,729
Commercial Net
4,221
Small Trader Net
-1,492
Long/Short Ratio
0.87
Open Interest
64,359
Total Traders
232
Lean Hogs Futures
SQUEEZE2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
SQUEEZE
Short squeeze in Lean Hogs — specs covering extreme short positions. Commercials accumulating Lean Hogs while speculators exit — smart money positioning bullish.
Spec:
-62,771
(+3,150)
·
Comm:
61,557
3Y Percentile
2%
Latest Week
Speculator Net
-62,771
Commercial Net
61,557
Small Trader Net
1,214
Long/Short Ratio
0.54
Open Interest
286,408
Total Traders
323
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:
-10,047
(-1,051)
·
Comm:
12,521
3Y Percentile
1%
Latest Week
Speculator Net
-10,047
Commercial Net
12,521
Small Trader Net
-2,474
Long/Short Ratio
0.23
Open Interest
34,567
Total Traders
92
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:
-9,724
(-217)
·
Comm:
9,260
3Y Percentile
7%
Latest Week
Speculator Net
-9,724
Commercial Net
9,260
Small Trader Net
464
Long/Short Ratio
0.06
Open Interest
32,126
Total Traders
76
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.