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This Month in Futures MarketsAugust 2012Wednesday, September 05, 2012OCE, Commodity Futures Trading CommissionDisclaimer: This report is based on the Commitments of Traders (COT) report released on August 31, 2012. Up to date COT reports can be accessed at http://www.cftc.gov/MarketReports/CommitmentsOfTraders/Index.htm For each commodity, the COT reports provide information on the size and the direction of the positions taken, across all maturities, by three categories of futures traders. These three trader categories are called “commercials", "non-commercials”, and “non-reportables”. Commercial traders are those who use futures or option contracts in a given commodity for hedging purposes, as defined in CFTC regulations. Commercial traders hold positions in both the underlying commodity and in the futures (or options) contracts on that commodity. By contrast, non-commercial traders do not own the underlying asset or its financial equivalent; they hold only positions in futures (or options) contracts. Finally, non-reportable positions are those held by traders who do not meet the reporting thresholds set by the CFTC (usually small traders).
Futures Markets: Energy
NYMEX WTI
Crude Oil
futures open interest increased 8.3 percent in August.
Commercial
participants, who accounted for 51.2 percent of open interest,
held net short positions; they increased their long positions by
5.2 percent and increased their short positions by 13.4 percent.
Non-commercial
participants, who accounted for 44.4 percent of open interest,
held net long positions. They increased their long positions by
11.3 percent and increased their short positions by 1.0 percent.
Non-reportable
participants, who accounted for 4.5 percent of total open
interest, held net
long positions; they increased their long positions by 4.8
percent and increased their short positions by 5.2 percent.
NYMEX Henry Hub Natural Gas
futures open interest fell 4.1 percent in August.
Commercial
participants, who accounted for 34.4 percent of open interest,
held net long positions; they increased their long positions by
4.2 percent and increased their short positions by 2.7 percent.
Non-commercial
participants, who accounted for 60.4 percent of open interest,
held net short positions. They decreased their long positions by
9.0 percent and decreased their short positions by 7.6 percent.
Non-reportable
participants, who accounted for 5.2 percent of total open
interest, held net
long positions; they decreased their long positions by 2.6
percent and increased their short positions by 4.0 percent.
NYMEX Heating Oil
futures open interest increased 4.6 percent in August.
Commercial
participants, who accounted for 61.5 percent of open interest,
held net short positions; they decreased their long positions by
1.1 percent and increased their short positions by 11.8 percent.
Non-commercial
participants, who accounted for 27.5 percent of open interest,
held net long positions. They increased their long positions by
8.1 percent and decreased their short positions by 6.1 percent.
Non-reportable
participants, who accounted for 11.0 percent of total open
interest, held net
long positions; they increased their long positions by 25.7
percent and decreased their short positions by 10.2 percent.
NYMEX RBOB Gasoline
futures open interest increased 12.0 percent in August.
Commercial
participants, who accounted for 56.6 percent of open interest,
held net short positions; they increased their long positions by
4.8 percent and increased their short positions by 7.6 percent.
Non-commercial
participants, who accounted for 36.3 percent of open interest,
held net long positions. They increased their long positions by
17.0 percent and increased their short positions by 27.4 percent.
Non-reportable
participants, who accounted for 7.1 percent of total open
interest, held net
long positions; they increased their long positions by 21.2
percent and increased their short positions by 11.6 percent. Agriculture
CBOT Corn
futures open interest increased 1.7 percent in August.
Commercial
participants, who accounted for 54.3 percent of open interest,
held net short positions; they decreased their long positions by
6.5 percent and increased their short positions by 3.0 percent.
Non-commercial
participants, who accounted for 31.2 percent of open interest,
held net long positions. They increased their long positions by
10.3 percent and decreased their short positions by 2.4 percent.
Non-reportable
participants, who accounted for 14.5 percent of total open
interest, held net
short positions; they increased their long positions by 4.0
percent and increased their short positions by 1.0 percent.
CBOT Wheat
futures open interest fell 5.2 percent in August.
Commercial
participants, who accounted for 48.8 percent of open interest,
held net short positions; they decreased their long positions by
3.6 percent and decreased their short positions by 4.6 percent.
Non-commercial
participants, who accounted for 41.3 percent of open interest,
held net long positions. They decreased their long positions by
7.2 percent and decreased their short positions by 8.7 percent.
Non-reportable
participants, who accounted for 9.8 percent of total open
interest, held net
short positions; they decreased their long positions by 2.6
percent and increased their short positions by 3.7 percent.
CBOT Soybeans
futures open interest fell 2.4 percent in August.
Commercial
participants, who accounted for 52.1 percent of open interest,
held net short positions; they decreased their long positions by
5.4 percent and decreased their short positions by 5.8 percent.
Non-commercial
participants, who accounted for 37.7 percent of open interest,
held net long positions. They decreased their long positions by
2.4 percent and increased their short positions by 5.6 percent.
Non-reportable
participants, who accounted for 10.2 percent of total open
interest, held net
long positions; they increased their long positions by 9.8
percent and increased their short positions by 5.4 percent.
CBOT Soybean Oil
futures open interest increased 3.0 percent in August.
Commercial
participants, who accounted for 55.2 percent of open interest,
held net short positions; they decreased their long positions by
11.6 percent and increased their short positions by 4.7 percent.
Non-commercial
participants, who accounted for 35.1 percent of open interest,
held net long positions. They increased their long positions by
17.6 percent and increased their short positions by 0.2 percent.
Non-reportable
participants, who accounted for 9.7 percent of total open
interest, held net
long positions; they increased their long positions by 41.8
percent and increased their short positions by 1.6 percent. Soft Commodities
ICE Futures U.S. Sugar
futures open interest increased 7.7 percent in August.
Commercial
participants, who accounted for 59.6 percent of open interest,
held net short positions; they increased their long positions by
10.0 percent and decreased their short positions by 9.3 percent.
Non-commercial
participants, who accounted for 29.5 percent of open interest,
held net long positions. They increased their long positions by
4.0 percent and increased their short positions by 64.2 percent.
Non-reportable
participants, who accounted for 10.9 percent of total open
interest, held net
short positions; they increased their long positions by 8.4
percent and increased their short positions by 59.4 percent.
ICE Futures U.S. Coffee
futures open interest changed less then less then 0.1 percent in August.
Commercial
participants, who accounted for 53.0 percent of open interest,
held net long positions; they increased their long positions by
2.3 percent and decreased their short positions by 15.6 percent.
Non-commercial
participants, who accounted for 41.4 percent of open interest,
held net short positions. They decreased their long positions by
4.0 percent and increased their short positions by 24.4 percent.
Non-reportable
participants, who accounted for 5.6 percent of total open
interest, held net
short positions; they increased their long positions by 2.5
percent and decreased their short positions by 7.2 percent.
ICE Futures U.S. Cocoa
futures open interest fell 1.9 percent in August.
Commercial
participants, who accounted for 58.4 percent of open interest,
held net short positions; they decreased their long positions by
10.9 percent and increased their short positions by 0.9 percent.
Non-commercial
participants, who accounted for 36.4 percent of open interest,
held net long positions. They increased their long positions by
9.2 percent and decreased their short positions by 2.5 percent.
Non-reportable
participants, who accounted for 5.1 percent of total open
interest, held net
long positions; they increased their long positions by 10.0
percent and decreased their short positions by 34.6 percent.
ICE Futures U.S. Cotton
futures open interest increased 1.7 percent in August.
Commercial
participants, who accounted for 50.2 percent of open interest,
held net short positions; they decreased their long positions by
5.2 percent and increased their short positions by 11.0 percent.
Non-commercial
participants, who accounted for 41.7 percent of open interest,
held net long positions. They increased their long positions by
9.4 percent and decreased their short positions by 7.0 percent.
Non-reportable
participants, who accounted for 8.2 percent of total open
interest, held net
long positions; they increased their long positions by 9.9
percent and decreased their short positions by 3.8 percent. Financials
CME 3-month Eurodollars
futures open interest fell 0.3 percent in August.
Commercial
participants, who accounted for 60.6 percent of open interest,
held net short positions; they increased their long positions by
0.8 percent and decreased their short positions by 1.6 percent.
Non-commercial
participants, who accounted for 28.1 percent of open interest,
held net long positions. They decreased their long positions by
2.1 percent and increased their short positions by 0.1 percent.
Non-reportable
participants, who accounted for 11.3 percent of total open
interest, held net
short positions; they decreased their long positions by 0.2
percent and increased their short positions by 6.7 percent.
CME Euro-FX
futures open interest increased 0.2 percent in August.
Commercial
participants, who accounted for 51.6 percent of open interest,
held net long positions; they decreased their long positions by
4.0 percent and increased their short positions by 58.1 percent.
Non-commercial
participants, who accounted for 32.1 percent of open interest,
held net short positions. They increased their long positions by
10.6 percent and decreased their short positions by 17.8 percent.
Non-reportable
participants, who accounted for 16.3 percent of total open
interest, held net
short positions; they increased their long positions by 15.7
percent and decreased their short positions by 3.8 percent.
CBOT 10-year Treasury Notes
futures open interest fell 8.7 percent in August.
Commercial
participants, who accounted for 64.6 percent of open interest,
held net short positions; they decreased their long positions by
12.2 percent and decreased their short positions by 5.0 percent.
Non-commercial
participants, who accounted for 15.5 percent of open interest,
held net long positions. They decreased their long positions by
13.6 percent and decreased their short positions by 29.2 percent.
Non-reportable
participants, who accounted for 19.9 percent of total open
interest, held net
long positions; they increased their long positions by 10.6
percent and decreased their short positions by 1.4 percent.
CME S&P 500
futures open interest increased 2.9 percent in August.
Commercial
participants, who accounted for 66.3 percent of open interest,
held net short positions; they increased their long positions by
5.1 percent and increased their short positions by 6.4 percent.
Non-commercial
participants, who accounted for 5.1 percent of open interest,
held net long positions. They decreased their long positions by
6.0 percent and increased their short positions by 8.5 percent.
Non-reportable
participants, who accounted for 28.6 percent of total open
interest, held net
long positions; they increased their long positions by 0.1
percent and decreased their short positions by 5.2 percent. Metals
NYMEX Gold
futures open interest increased 5.7 percent in August.
Commercial
participants, who accounted for 56.5 percent of open interest,
held net short positions; they decreased their long positions by
10.5 percent and increased their short positions by 10.1 percent.
Non-commercial
participants, who accounted for 32.8 percent of open interest,
held net long positions. They increased their long positions by
13.2 percent and decreased their short positions by 10.2 percent.
Non-reportable
participants, who accounted for 10.7 percent of total open
interest, held net
long positions; they increased their long positions by 25.5
percent and decreased their short positions by 5.3 percent.
NYMEX Silver
futures open interest changed less then less then 0.1 percent in August.
Commercial
participants, who accounted for 47.1 percent of open interest,
held net short positions; they decreased their long positions by
13.0 percent and increased their short positions by 17.8 percent.
Non-commercial
participants, who accounted for 39.0 percent of open interest,
held net long positions. They increased their long positions by
8.3 percent and decreased their short positions by 24.6 percent.
Non-reportable
participants, who accounted for 13.9 percent of total open
interest, held net
long positions; they increased their long positions by 4.1
percent and decreased their short positions by 5.9 percent.
NYMEX Copper
futures open interest increased 1.7 percent in August.
Commercial
participants, who accounted for 48.2 percent of open interest,
held net long positions; they decreased their long positions by
4.7 percent and increased their short positions by 11.1 percent.
Non-commercial
participants, who accounted for 41.8 percent of open interest,
held net short positions. They increased their long positions by
9.6 percent and decreased their short positions by 2.5 percent.
Non-reportable
participants, who accounted for 10.0 percent of total open
interest, held net
short positions; they increased their long positions by 11.7
percent and decreased their short positions by 11.2 percent.
NYMEX Platinum
futures open interest increased 4.3 percent in August.
Commercial
participants, who accounted for 42.8 percent of open interest,
held net short positions; they decreased their long positions by
29.7 percent and increased their short positions by 30.6 percent.
Non-commercial
participants, who accounted for 48.8 percent of open interest,
held net long positions. They increased their long positions by
11.5 percent and decreased their short positions by 33.4 percent.
Non-reportable
participants, who accounted for 8.4 percent of total open
interest, held net
long positions; they increased their long positions by 16.7
percent and decreased their short positions by 26.1 percent. Livestock
CME Live Cattle
futures open interest fell 6.3 percent in August.
Commercial
participants, who accounted for 44.4 percent of open interest,
held net long positions; they decreased their long positions by
3.8 percent and decreased their short positions by 2.5 percent.
Non-commercial
participants, who accounted for 43.3 percent of open interest,
held net long positions. They decreased their long positions by
9.2 percent and decreased their short positions by 11.7 percent.
Non-reportable
participants, who accounted for 12.3 percent of total open
interest, held net
short positions; they decreased their long positions by 2.1
percent and decreased their short positions by 1.6 percent.
CME Lean Hogs
futures open interest increased 3.8 percent in August.
Commercial
participants, who accounted for 37.9 percent of open interest,
held net short positions; they decreased their long positions by
2.0 percent and decreased their short positions by 11.6 percent.
Non-commercial
participants, who accounted for 49.8 percent of open interest,
held net long positions. They increased their long positions by
5.8 percent and increased their short positions by 22.4 percent.
Non-reportable
participants, who accounted for 12.4 percent of total open
interest, held net
short positions; they increased their long positions by 17.5
percent and increased their short positions by 0.3 percent.
Futures and Options Combined Markets: Energy
NYMEX WTI Crude Oil
futures and options (thereafter combined) open interest increased 6.3
percent in August.
Commercial participants, who accounted for 54.2 percent of
open interest, held net short positions; their long exposure was
increased by 5.2 percent and their short exposure was increased by
10.0 percent.
Non-commercial participants, who accounted for 42.7 percent
of open interest, held net long positions. Their long exposure
was increased by 7.8 percent and their short exposure was increased
by 0.9 percent.
Non-reportable participants, who accounted for 3.1 percent
of total open interest, held net long positions; their long exposure was increased by 1.7
percent and their short exposure was increased by 4.1 percent.
NYMEX Henry Hub Natural Gas
combined open interest fell 4.4
percent in August.
Commercial participants, who accounted for 33.8 percent of
open interest, held net long positions; their long exposure was
increased by 3.8 percent and their short exposure was increased by
2.1 percent.
Non-commercial participants, who accounted for 60.9 percent
of open interest, held net short positions. Their long exposure
was decreased by 9.0 percent and their short exposure was decreased
by 7.5 percent.
Non-reportable participants, who accounted for 5.4 percent
of total open interest, held net long positions; their long exposure was decreased by 2.7
percent and their short exposure was increased by 1.1 percent.
NYMEX Heating Oil
combined open interest increased 4.5
percent in August.
Commercial participants, who accounted for 59.8 percent of
open interest, held net short positions; their long exposure was
decreased by 1.8 percent and their short exposure was increased by
11.2 percent.
Non-commercial participants, who accounted for 29.5 percent
of open interest, held net long positions. Their long exposure
was increased by 8.6 percent and their short exposure was decreased
by 4.7 percent.
Non-reportable participants, who accounted for 10.7 percent
of total open interest, held net long positions; their long exposure was increased by 26.5
percent and their short exposure was decreased by 9.8 percent.
NYMEX RBOB Gasoline
combined open interest increased 11.5
percent in August.
Commercial participants, who accounted for 55.2 percent of
open interest, held net short positions; their long exposure was
increased by 4.5 percent and their short exposure was increased by
7.7 percent.
Non-commercial participants, who accounted for 38.0 percent
of open interest, held net long positions. Their long exposure
was increased by 16.4 percent and their short exposure was increased
by 23.5 percent.
Non-reportable participants, who accounted for 6.8 percent
of total open interest, held net long positions; their long exposure was increased by 20.2
percent and their short exposure was increased by 10.9 percent. Agriculture
CBOT Corn
combined open interest fell 6.3
percent in August.
Commercial participants, who accounted for 43.8 percent of
open interest, held net short positions; their long exposure was
decreased by 7.9 percent and their short exposure was decreased by
2.6 percent.
Non-commercial participants, who accounted for 43.9 percent
of open interest, held net long positions. Their long exposure
was decreased by 5.5 percent and their short exposure was decreased
by 13.2 percent.
Non-reportable participants, who accounted for 12.3 percent
of total open interest, held net short positions; their long exposure was decreased by 4.5
percent and their short exposure was decreased by 1.1 percent.
CBOT Wheat
combined open interest fell 9.4
percent in August.
Commercial participants, who accounted for 45.2 percent of
open interest, held net short positions; their long exposure was
decreased by 4.1 percent and their short exposure was decreased by
6.9 percent.
Non-commercial participants, who accounted for 46.6 percent
of open interest, held net long positions. Their long exposure
was decreased by 13.9 percent and their short exposure was decreased
by 13.8 percent.
Non-reportable participants, who accounted for 8.2 percent
of total open interest, held net short positions; their long exposure was decreased by 4.4
percent and their short exposure was increased by 0.2 percent.
CBOT Soybeans
combined open interest fell 0.8
percent in August.
Commercial participants, who accounted for 41.2 percent of
open interest, held net short positions; their long exposure was
decreased by 6.2 percent and their short exposure was decreased by
3.8 percent.
Non-commercial participants, who accounted for 51.2 percent
of open interest, held net long positions. Their long exposure
was increased by 1.2 percent and their short exposure was increased
by 2.3 percent.
Non-reportable participants, who accounted for 7.6 percent
of total open interest, held net long positions; their long exposure was increased by 7.1
percent and their short exposure was increased by 4.4 percent.
CBOT Soybean Oil
combined open interest increased 4.3
percent in August.
Commercial participants, who accounted for 52.5 percent of
open interest, held net short positions; their long exposure was
decreased by 11.6 percent and their short exposure was increased by
7.9 percent.
Non-commercial participants, who accounted for 38.8 percent
of open interest, held net long positions. Their long exposure
was increased by 19.7 percent and their short exposure was decreased
by 0.6 percent.
Non-reportable participants, who accounted for 8.6 percent
of total open interest, held net long positions; their long exposure was increased by 40.7
percent and their short exposure was increased by 0.1 percent. Soft Commodities
ICE
Futures U.S. Sugar
combined open interest increased 9.2
percent in August.
Commercial participants, who accounted for 56.4 percent of
open interest, held net short positions; their long exposure was
increased by 13.8 percent and their short exposure was decreased by
7.4 percent.
Non-commercial participants, who accounted for 33.8 percent
of open interest, held net long positions. Their long exposure
was increased by 3.6 percent and their short exposure was increased
by 51.3 percent.
Non-reportable participants, who accounted for 9.8 percent
of total open interest, held net short positions; their long exposure was increased by 9.0
percent and their short exposure was increased by 47.7 percent. ICE
Futures U.S. Coffee
combined open interest fell 11.4
percent in August.
Commercial participants, who accounted for 45.6 percent of
open interest, held net long positions; their long exposure was
decreased by 4.3 percent and their short exposure was decreased by
20.2 percent.
Non-commercial participants, who accounted for 50.2 percent
of open interest, held net short positions. Their long exposure
was decreased by 19.0 percent and their short exposure was decreased
by 3.8 percent.
Non-reportable participants, who accounted for 4.2 percent
of total open interest, held net short positions; their long exposure was increased by 3.1
percent and their short exposure was decreased by 5.9 percent. ICE
Futures U.S. Cocoa
combined open interest increased 0.8
percent in August.
Commercial participants, who accounted for 54.2 percent of
open interest, held net short positions; their long exposure was
decreased by 10.2 percent and their short exposure was increased by
1.3 percent.
Non-commercial participants, who accounted for 41.0 percent
of open interest, held net long positions. Their long exposure
was increased by 13.5 percent and their short exposure was increased
by 4.4 percent.
Non-reportable participants, who accounted for 4.8 percent
of total open interest, held net long positions; their long exposure was increased by 10.9
percent and their short exposure was decreased by 33.5 percent. ICE
Futures U.S. Cotton
combined open interest increased 1.2
percent in August.
Commercial participants, who accounted for 47.5 percent of
open interest, held net short positions; their long exposure was
decreased by 5.7 percent and their short exposure was increased by
8.2 percent.
Non-commercial participants, who accounted for 46.6 percent
of open interest, held net long positions. Their long exposure
was increased by 6.5 percent and their short exposure was decreased
by 6.0 percent.
Non-reportable participants, who accounted for 5.8 percent
of total open interest, held net long positions; their long exposure was increased by 9.3
percent and their short exposure was decreased by 3.3 percent. Financials
CME
3-month Eurodollars
combined open interest fell 2.4
percent in August.
Commercial participants, who accounted for 50.5 percent of
open interest, held net short positions; their long exposure was
increased by 0.1 percent and their short exposure was decreased by
2.0 percent.
Non-commercial participants, who accounted for 41.6 percent
of open interest, held net long positions. Their long exposure
was decreased by 5.3 percent and their short exposure was decreased
by 4.7 percent.
Non-reportable participants, who accounted for 7.9 percent
of total open interest, held net short positions; their long exposure was increased by 0.7
percent and their short exposure was increased by 7.2 percent. CME
Euro-FX
combined open interest fell 1.8
percent in August.
Commercial participants, who accounted for 48.3 percent of
open interest, held net long positions; their long exposure was
decreased by 4.2 percent and their short exposure was increased by
44.2 percent.
Non-commercial participants, who accounted for 35.9 percent
of open interest, held net short positions. Their long exposure
was decreased by 0.1 percent and their short exposure was decreased
by 17.5 percent.
Non-reportable participants, who accounted for 15.8 percent
of total open interest, held net short positions; their long exposure was increased by 10.5
percent and their short exposure was decreased by 1.8 percent.
CBOT 10-year Treasury Notes
combined open interest fell 12.3
percent in August.
Commercial participants, who accounted for 62.1 percent of
open interest, held net short positions; their long exposure was
decreased by 14.5 percent and their short exposure was decreased by
10.1 percent.
Non-commercial participants, who accounted for 19.7 percent
of open interest, held net long positions. Their long exposure
was decreased by 20.5 percent and their short exposure was decreased
by 25.5 percent.
Non-reportable participants, who accounted for 18.2 percent
of total open interest, held net long positions; their long exposure was increased by 9.8
percent and their short exposure was decreased by 3.1 percent. CME
S&P 500
combined open interest increased 2.2
percent in August.
Commercial participants, who accounted for 65.6 percent of
open interest, held net short positions; their long exposure was
increased by 5.1 percent and their short exposure was increased by
5.9 percent.
Non-commercial participants, who accounted for 9.7 percent
of open interest, held net long positions. Their long exposure
was decreased by 10.0 percent and their short exposure was decreased
by 5.6 percent.
Non-reportable participants, who accounted for 24.7 percent
of total open interest, held net long positions; their long exposure was changed by less then 0.1
percent and their short exposure was decreased by 3.7 percent. Metals
NYMEX Gold
combined open interest increased 4.0
percent in August.
Commercial participants, who accounted for 50.8 percent of
open interest, held net short positions; their long exposure was
decreased by 8.3 percent and their short exposure was increased by
8.4 percent.
Non-commercial participants, who accounted for 41.9 percent
of open interest, held net long positions. Their long exposure
was increased by 10.4 percent and their short exposure was decreased
by 2.0 percent.
Non-reportable participants, who accounted for 7.3 percent
of total open interest, held net long positions; their long exposure was increased by 20.8
percent and their short exposure was decreased by 16.8 percent.
NYMEX Silver
combined open interest fell 1.5
percent in August.
Commercial participants, who accounted for 45.8 percent of
open interest, held net short positions; their long exposure was
decreased by 12.9 percent and their short exposure was increased by
13.9 percent.
Non-commercial participants, who accounted for 42.7 percent
of open interest, held net long positions. Their long exposure
was increased by 5.9 percent and their short exposure was decreased
by 19.0 percent.
Non-reportable participants, who accounted for 11.5 percent
of total open interest, held net long positions; their long exposure was increased by 2.3
percent and their short exposure was decreased by 11.8 percent.
NYMEX Copper
combined open interest increased 1.7
percent in August.
Commercial participants, who accounted for 48.2 percent of
open interest, held net long positions; their long exposure was
decreased by 4.7 percent and their short exposure was increased by
11.1 percent.
Non-commercial participants, who accounted for 41.8 percent
of open interest, held net short positions. Their long exposure
was increased by 9.7 percent and their short exposure was decreased
by 2.5 percent.
Non-reportable participants, who accounted for 10.0 percent
of total open interest, held net short positions; their long exposure was increased by 11.8
percent and their short exposure was decreased by 11.1 percent.
NYMEX Platinum
combined open interest increased 9.2
percent in August.
Commercial participants, who accounted for 44.0 percent of
open interest, held net short positions; their long exposure was
decreased by 15.1 percent and their short exposure was increased by
37.2 percent.
Non-commercial participants, who accounted for 48.0 percent
of open interest, held net long positions. Their long exposure
was increased by 14.8 percent and their short exposure was decreased
by 30.4 percent.
Non-reportable participants, who accounted for 7.9 percent
of total open interest, held net long positions; their long exposure was increased by 17.0
percent and their short exposure was decreased by 26.1 percent. Livestock
CME
Lean Hogs
combined open interest increased 4.5
percent in August.
Commercial participants, who accounted for 35.3 percent of
open interest, held net short positions; their long exposure was
decreased by 1.1 percent and their short exposure was decreased by
9.3 percent.
Non-commercial participants, who accounted for 52.8 percent
of open interest, held net long positions. Their long exposure
was increased by 5.5 percent and their short exposure was increased
by 20.6 percent.
Non-reportable participants, who accounted for 12.0 percent
of total open interest, held net short positions; their long exposure was increased by 20.5
percent and their short exposure was decreased by 0.8 percent. CME
Live Cattle
combined open interest fell 9.9
percent in August.
Commercial participants, who accounted for 42.2 percent of
open interest, held net short positions; their long exposure was
decreased by 3.4 percent and their short exposure was decreased by
4.2 percent.
Non-commercial participants, who accounted for 46.5 percent
of open interest, held net long positions. Their long exposure
was decreased by 15.2 percent and their short exposure was decreased
by 17.3 percent.
Non-reportable participants, who accounted for 11.3 percent
of total open interest, held net short positions; their long exposure was decreased by 2.3
percent and their short exposure was decreased by 3.5 percent. Notes:
1. Percentage changes
are calculated using data representing last Tuesday of the previous
month and last Tuesday of the current month.
2. Percentages of open
interest held by the commercial, non-commercial, and non-reportable
traders reflect the averages of the percentages of long and short
positions held by these groups of traders.
3. The share of Commercial, Non-Commercial, and Non-Reportable
positions may not sum up to 100 due to rounding errors.
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