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Summary | Energy | Agriculture | Soft Commodities | Financials | Metals | Livestock |
This Month in Futures MarketsSeptember 2012Wednesday, October 03, 2012OCE, Commodity Futures Trading CommissionDisclaimer: This report is based on the Commitments of Traders (COT) report released on September 28, 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 2.9 percent in September.
Commercial
participants, who accounted for 50.5 percent of open interest,
held net short positions; they increased their long positions by
2.6 percent and increased their short positions by 1.0 percent.
Non-commercial
participants, who accounted for 45.0 percent of open interest,
held net long positions. They increased their long positions by
2.5 percent and increased their short positions by 7.0 percent.
Non-reportable
participants, who accounted for 4.5 percent of total open
interest, held net
long positions; they increased their long positions by 10.7
percent and decreased their short positions by 3.2 percent.
NYMEX Henry Hub Natural Gas
futures open interest fell 1.2 percent in September.
Commercial
participants, who accounted for 33.7 percent of open interest,
held net long positions; they decreased their long positions by
1.4 percent and decreased their short positions by 5.2 percent.
Non-commercial
participants, who accounted for 61.1 percent of open interest,
held net short positions. They decreased their long positions by
1.3 percent and increased their short positions by 1.0 percent.
Non-reportable
participants, who accounted for 5.2 percent of total open
interest, held net
long positions; they increased their long positions by 0.1
percent and decreased their short positions by 5.0 percent.
NYMEX Heating Oil
futures open interest increased 3.5 percent in September.
Commercial
participants, who accounted for 60.9 percent of open interest,
held net short positions; they increased their long positions by
1.5 percent and increased their short positions by 3.3 percent.
Non-commercial
participants, who accounted for 29.0 percent of open interest,
held net long positions. They increased their long positions by
10.9 percent and increased their short positions by 7.3 percent.
Non-reportable
participants, who accounted for 10.2 percent of total open
interest, held net
long positions; they decreased their long positions by 3.4
percent and decreased their short positions by 6.3 percent.
NYMEX RBOB Gasoline
futures open interest increased 5.8 percent in September.
Commercial
participants, who accounted for 56.4 percent of open interest,
held net short positions; they increased their long positions by
6.1 percent and increased their short positions by 5.0 percent.
Non-commercial
participants, who accounted for 37.5 percent of open interest,
held net long positions. They increased their long positions by
8.7 percent and increased their short positions by 10.6 percent.
Non-reportable
participants, who accounted for 6.1 percent of total open
interest, held net
long positions; they decreased their long positions by 11.0
percent and decreased their short positions by 6.2 percent. Agriculture
CBOT Corn
futures open interest fell 3.1 percent in September.
Commercial
participants, who accounted for 52.2 percent of open interest,
held net short positions; they decreased their long positions by
5.0 percent and decreased their short positions by 8.0 percent.
Non-commercial
participants, who accounted for 32.7 percent of open interest,
held net long positions. They decreased their long positions by
0.8 percent and increased their short positions by 7.7 percent.
Non-reportable
participants, who accounted for 15.1 percent of total open
interest, held net
short positions; they decreased their long positions by 4.9
percent and increased their short positions by 4.8 percent.
CBOT Wheat
futures open interest increased 1.9 percent in September.
Commercial
participants, who accounted for 46.4 percent of open interest,
held net short positions; they decreased their long positions by
4.5 percent and decreased their short positions by 2.2 percent.
Non-commercial
participants, who accounted for 43.8 percent of open interest,
held net long positions. They increased their long positions by
8.3 percent and increased their short positions by 7.5 percent.
Non-reportable
participants, who accounted for 9.8 percent of total open
interest, held net
short positions; they decreased their long positions by 0.9
percent and increased their short positions by 3.5 percent.
CBOT Soybeans
futures open interest fell 2.3 percent in September.
Commercial
participants, who accounted for 54.2 percent of open interest,
held net short positions; they increased their long positions by
6.3 percent and decreased their short positions by 0.9 percent.
Non-commercial
participants, who accounted for 35.4 percent of open interest,
held net long positions. They decreased their long positions by
6.9 percent and decreased their short positions by 12.1 percent.
Non-reportable
participants, who accounted for 10.5 percent of total open
interest, held net
short positions; they decreased their long positions by 9.2
percent and increased their short positions by 10.5 percent.
CBOT Soybean Oil
futures open interest fell 13.0 percent in September.
Commercial
participants, who accounted for 57.8 percent of open interest,
held net short positions; they decreased their long positions by
5.6 percent and decreased their short positions by 11.5 percent.
Non-commercial
participants, who accounted for 31.6 percent of open interest,
held net long positions. They decreased their long positions by
23.0 percent and decreased their short positions by 19.7 percent.
Non-reportable
participants, who accounted for 10.6 percent of total open
interest, held net
long positions; they decreased their long positions by 9.2
percent and increased their short positions by 1.4 percent. Soft Commodities
ICE Futures U.S. Sugar
futures open interest fell 5.5 percent in September.
Commercial
participants, who accounted for 58.3 percent of open interest,
held net short positions; they decreased their long positions by
5.1 percent and decreased their short positions by 9.5 percent.
Non-commercial
participants, who accounted for 30.4 percent of open interest,
held net long positions. They decreased their long positions by
8.7 percent and increased their short positions by 5.8 percent.
Non-reportable
participants, who accounted for 11.3 percent of total open
interest, held net
long positions; they increased their long positions by 2.8
percent and decreased their short positions by 7.2 percent.
ICE Futures U.S. Coffee
futures open interest increased 3.5 percent in September.
Commercial
participants, who accounted for 53.5 percent of open interest,
held net long positions; they decreased their long positions by
0.2 percent and increased their short positions by 10.4 percent.
Non-commercial
participants, who accounted for 40.5 percent of open interest,
held net short positions. They increased their long positions by
7.4 percent and decreased their short positions by 3.7 percent.
Non-reportable
participants, who accounted for 6.0 percent of total open
interest, held net
long positions; they increased their long positions by 16.2
percent and increased their short positions by 4.1 percent.
ICE Futures U.S. Cocoa
futures open interest increased 5.0 percent in September.
Commercial
participants, who accounted for 58.2 percent of open interest,
held net short positions; they decreased their long positions by
1.5 percent and increased their short positions by 9.0 percent.
Non-commercial
participants, who accounted for 36.3 percent of open interest,
held net long positions. They increased their long positions by
11.0 percent and decreased their short positions by 4.4 percent.
Non-reportable
participants, who accounted for 5.5 percent of total open
interest, held net
long positions; they increased their long positions by 14.8
percent and increased their short positions by 9.6 percent.
ICE Futures U.S. Cotton
futures open interest increased 3.3 percent in September.
Commercial
participants, who accounted for 49.9 percent of open interest,
held net long positions; they increased their long positions by
6.6 percent and decreased their short positions by 1.1 percent.
Non-commercial
participants, who accounted for 41.9 percent of open interest,
held net short positions. They increased their long positions by
0.6 percent and increased their short positions by 7.3 percent.
Non-reportable
participants, who accounted for 8.2 percent of total open
interest, held net
long positions; they decreased their long positions by 2.6
percent and increased their short positions by 11.5 percent. Financials
CME 3-month Eurodollars
futures open interest increased 3.3 percent in September.
Commercial
participants, who accounted for 60.6 percent of open interest,
held net short positions; they decreased their long positions by
0.5 percent and increased their short positions by 6.8 percent.
Non-commercial
participants, who accounted for 28.3 percent of open interest,
held net long positions. They increased their long positions by
11.5 percent and decreased their short positions by 5.8 percent.
Non-reportable
participants, who accounted for 11.1 percent of total open
interest, held net
short positions; they decreased their long positions by 1.1
percent and increased their short positions by 2.7 percent.
CME Euro-FX
futures open interest fell 30.0 percent in September.
Commercial
participants, who accounted for 41.1 percent of open interest,
held net long positions; they decreased their long positions by
46.7 percent and decreased their short positions by 38.3 percent.
Non-commercial
participants, who accounted for 36.7 percent of open interest,
held net short positions. They increased their long positions by
11.4 percent and decreased their short positions by 30.3 percent.
Non-reportable
participants, who accounted for 22.2 percent of total open
interest, held net
short positions; they increased their long positions by 15.4
percent and decreased their short positions by 16.8 percent.
CBOT 10-year Treasury Notes
futures open interest increased 0.1 percent in September.
Commercial
participants, who accounted for 67.1 percent of open interest,
held net short positions; they increased their long positions by
2.1 percent and increased their short positions by 5.7 percent.
Non-commercial
participants, who accounted for 14.8 percent of open interest,
held net long positions. They increased their long positions by
1.9 percent and decreased their short positions by 12.4 percent.
Non-reportable
participants, who accounted for 18.2 percent of total open
interest, held net
long positions; they decreased their long positions by 7.8
percent and decreased their short positions by 9.9 percent.
CME S&P 500
futures open interest fell 20.7 percent in September.
Commercial
participants, who accounted for 70.0 percent of open interest,
held net short positions; they decreased their long positions by
23.4 percent and decreased their short positions by 9.2 percent.
Non-commercial
participants, who accounted for 4.1 percent of open interest,
held net short positions. They decreased their long positions by
39.1 percent and decreased their short positions by 33.8 percent.
Non-reportable
participants, who accounted for 26.0 percent of total open
interest, held net
long positions; they decreased their long positions by 11.1
percent and decreased their short positions by 45.4 percent. Metals
NYMEX Gold
futures open interest increased 14.8 percent in September.
Commercial
participants, who accounted for 56.3 percent of open interest,
held net short positions; they increased their long positions by
3.9 percent and increased their short positions by 18.7 percent.
Non-commercial
participants, who accounted for 33.6 percent of open interest,
held net long positions. They increased their long positions by
21.6 percent and increased their short positions by 3.3 percent.
Non-reportable
participants, who accounted for 10.0 percent of total open
interest, held net
long positions; they increased their long positions by 14.7
percent and decreased their short positions by 14.1 percent.
NYMEX Silver
futures open interest increased 9.3 percent in September.
Commercial
participants, who accounted for 45.3 percent of open interest,
held net short positions; they decreased their long positions by
9.4 percent and increased their short positions by 12.4 percent.
Non-commercial
participants, who accounted for 39.5 percent of open interest,
held net long positions. They increased their long positions by
12.5 percent and increased their short positions by 7.2 percent.
Non-reportable
participants, who accounted for 15.2 percent of total open
interest, held net
long positions; they increased their long positions by 33.0
percent and decreased their short positions by 4.1 percent.
NYMEX Copper
futures open interest increased 4.9 percent in September.
Commercial
participants, who accounted for 45.7 percent of open interest,
held net short positions; they decreased their long positions by
11.1 percent and increased their short positions by 12.5 percent.
Non-commercial
participants, who accounted for 43.5 percent of open interest,
held net long positions. They increased their long positions by
21.3 percent and decreased their short positions by 1.8 percent.
Non-reportable
participants, who accounted for 10.8 percent of total open
interest, held net
short positions; they increased their long positions by 30.9
percent and increased their short positions by 2.0 percent.
NYMEX Platinum
futures open interest increased 8.0 percent in September.
Commercial
participants, who accounted for 47.1 percent of open interest,
held net short positions; they decreased their long positions by
18.2 percent and increased their short positions by 25.4 percent.
Non-commercial
participants, who accounted for 45.0 percent of open interest,
held net long positions. They increased their long positions by
12.0 percent and decreased their short positions by 42.2 percent.
Non-reportable
participants, who accounted for 8.0 percent of total open
interest, held net
long positions; they increased their long positions by 11.2
percent and decreased their short positions by 21.0 percent. Livestock
CME Live Cattle
futures open interest increased 0.1 percent in September.
Commercial
participants, who accounted for 43.1 percent of open interest,
held net short positions; they decreased their long positions by
8.3 percent and increased their short positions by 2.5 percent.
Non-commercial
participants, who accounted for 44.7 percent of open interest,
held net long positions. They increased their long positions by
6.0 percent and increased their short positions by 0.3 percent.
Non-reportable
participants, who accounted for 12.2 percent of total open
interest, held net
short positions; they increased their long positions by 12.0
percent and decreased their short positions by 7.2 percent.
CME Lean Hogs
futures open interest fell 2.0 percent in September.
Commercial
participants, who accounted for 36.1 percent of open interest,
held net long positions; they decreased their long positions by
2.1 percent and decreased their short positions by 10.8 percent.
Non-commercial
participants, who accounted for 51.5 percent of open interest,
held net long positions. They decreased their long positions by
1.6 percent and increased their short positions by 4.5 percent.
Non-reportable
participants, who accounted for 12.4 percent of total open
interest, held net
short positions; they decreased their long positions by 3.7
percent and changed their short positions by less then 0.1 percent.
Futures and Options Combined Markets: Energy
NYMEX WTI Crude Oil
futures and options (thereafter combined) open interest increased 2.4
percent in September.
Commercial participants, who accounted for 53.8 percent of
open interest, held net short positions; their long exposure was
increased by 1.5 percent and their short exposure was increased by
1.7 percent.
Non-commercial participants, who accounted for 43.1 percent
of open interest, held net long positions. Their long exposure
was increased by 2.5 percent and their short exposure was increased
by 4.1 percent.
Non-reportable participants, who accounted for 3.1 percent
of total open interest, held net long positions; their long exposure was increased by 13.5
percent and their short exposure was decreased by 4.0 percent.
NYMEX Henry Hub Natural Gas
combined open interest fell 1.6
percent in September.
Commercial participants, who accounted for 33.3 percent of
open interest, held net long positions; their long exposure was
decreased by 1.2 percent and their short exposure was decreased by
5.2 percent.
Non-commercial participants, who accounted for 61.4 percent
of open interest, held net short positions. Their long exposure
was decreased by 2.0 percent and their short exposure was increased
by 0.3 percent.
Non-reportable participants, who accounted for 5.4 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 4.3 percent.
NYMEX Heating Oil
combined open interest increased 3.4
percent in September.
Commercial participants, who accounted for 59.2 percent of
open interest, held net short positions; their long exposure was
increased by 1.5 percent and their short exposure was increased by
3.0 percent.
Non-commercial participants, who accounted for 31.1 percent
of open interest, held net long positions. Their long exposure
was increased by 10.2 percent and their short exposure was increased
by 7.7 percent.
Non-reportable participants, who accounted for 9.7 percent
of total open interest, held net long positions; their long exposure was decreased by 4.4
percent and their short exposure was decreased by 7.8 percent.
NYMEX RBOB Gasoline
combined open interest increased 3.3
percent in September.
Commercial participants, who accounted for 55.5 percent of
open interest, held net short positions; their long exposure was
increased by 4.1 percent and their short exposure was increased by
3.5 percent.
Non-commercial participants, who accounted for 38.6 percent
of open interest, held net long positions. Their long exposure
was increased by 5.0 percent and their short exposure was increased
by 4.3 percent.
Non-reportable participants, who accounted for 6.0 percent
of total open interest, held net long positions; their long exposure was decreased by 10.6
percent and their short exposure was decreased by 6.2 percent. Agriculture
CBOT Corn
combined open interest fell 2.1
percent in September.
Commercial participants, who accounted for 42.4 percent of
open interest, held net short positions; their long exposure was
decreased by 2.3 percent and their short exposure was decreased by
7.5 percent.
Non-commercial participants, who accounted for 45.0 percent
of open interest, held net long positions. Their long exposure
was decreased by 1.2 percent and their short exposure was increased
by 3.1 percent.
Non-reportable participants, who accounted for 12.6 percent
of total open interest, held net short positions; their long exposure was decreased by 6.4
percent and their short exposure was increased by 4.5 percent.
CBOT Wheat
combined open interest increased 3.6
percent in September.
Commercial participants, who accounted for 43.2 percent of
open interest, held net short positions; their long exposure was
decreased by 1.8 percent and their short exposure was decreased by
0.5 percent.
Non-commercial participants, who accounted for 48.8 percent
of open interest, held net long positions. Their long exposure
was increased by 8.4 percent and their short exposure was increased
by 8.3 percent.
Non-reportable participants, who accounted for 8.0 percent
of total open interest, held net short positions; their long exposure was increased by 0.5
percent and their short exposure was increased by 3.2 percent.
CBOT Soybeans
combined open interest fell 1.8
percent in September.
Commercial participants, who accounted for 42.5 percent of
open interest, held net short positions; their long exposure was
increased by 7.2 percent and their short exposure was decreased by
2.2 percent.
Non-commercial participants, who accounted for 49.9 percent
of open interest, held net long positions. Their long exposure
was decreased by 5.1 percent and their short exposure was decreased
by 2.9 percent.
Non-reportable participants, who accounted for 7.6 percent
of total open interest, held net short positions; their long exposure was decreased by 11.0
percent and their short exposure was increased by 7.2 percent.
CBOT Soybean Oil
combined open interest fell 12.7
percent in September.
Commercial participants, who accounted for 55.0 percent of
open interest, held net short positions; their long exposure was
decreased by 4.1 percent and their short exposure was decreased by
12.0 percent.
Non-commercial participants, who accounted for 35.6 percent
of open interest, held net long positions. Their long exposure
was decreased by 22.4 percent and their short exposure was decreased
by 16.8 percent.
Non-reportable participants, who accounted for 9.4 percent
of total open interest, held net long positions; their long exposure was decreased by 9.3
percent and their short exposure was increased by 1.8 percent. Soft Commodities
ICE
Futures U.S. Sugar
combined open interest fell 11.0
percent in September.
Commercial participants, who accounted for 56.5 percent of
open interest, held net short positions; their long exposure was
decreased by 10.3 percent and their short exposure was decreased by
11.4 percent.
Non-commercial participants, who accounted for 33.0 percent
of open interest, held net long positions. Their long exposure
was decreased by 14.9 percent and their short exposure was decreased
by 10.9 percent.
Non-reportable participants, who accounted for 10.6 percent
of total open interest, held net long positions; their long exposure was increased by 1.3
percent and their short exposure was decreased by 8.2 percent. ICE
Futures U.S. Coffee
combined open interest increased 3.2
percent in September.
Commercial participants, who accounted for 45.7 percent of
open interest, held net long positions; their long exposure was
decreased by 1.5 percent and their short exposure was increased by
9.4 percent.
Non-commercial participants, who accounted for 49.8 percent
of open interest, held net short positions. Their long exposure
was increased by 7.1 percent and their short exposure was decreased
by 1.7 percent.
Non-reportable participants, who accounted for 4.5 percent
of total open interest, held net long positions; their long exposure was increased by 14.9
percent and their short exposure was increased by 4.0 percent. ICE
Futures U.S. Cocoa
combined open interest increased 5.6
percent in September.
Commercial participants, who accounted for 54.0 percent of
open interest, held net short positions; their long exposure was
increased by 1.2 percent and their short exposure was increased by
8.4 percent.
Non-commercial participants, who accounted for 40.9 percent
of open interest, held net long positions. Their long exposure
was increased by 9.0 percent and their short exposure was increased
by 0.5 percent.
Non-reportable participants, who accounted for 5.1 percent
of total open interest, held net long positions; their long exposure was increased by 14.4
percent and their short exposure was increased by 9.9 percent. ICE
Futures U.S. Cotton
combined open interest increased 5.3
percent in September.
Commercial participants, who accounted for 47.8 percent of
open interest, held net short positions; their long exposure was
increased by 10.2 percent and their short exposure was increased by
2.8 percent.
Non-commercial participants, who accounted for 46.4 percent
of open interest, held net long positions. Their long exposure
was increased by 2.5 percent and their short exposure was increased
by 7.9 percent.
Non-reportable participants, who accounted for 5.7 percent
of total open interest, held net long positions; their long exposure was decreased by 3.2
percent and their short exposure was increased by 11.4 percent. Financials
CME
3-month Eurodollars
combined open interest fell 4.6
percent in September.
Commercial participants, who accounted for 51.6 percent of
open interest, held net short positions; their long exposure was
decreased by 5.5 percent and their short exposure was decreased by
0.1 percent.
Non-commercial participants, who accounted for 40.2 percent
of open interest, held net long positions. Their long exposure
was decreased by 3.9 percent and their short exposure was decreased
by 12.1 percent.
Non-reportable participants, who accounted for 8.2 percent
of total open interest, held net short positions; their long exposure was decreased by 3.6
percent and their short exposure was increased by 0.1 percent. CME
Euro-FX
combined open interest fell 25.5
percent in September.
Commercial participants, who accounted for 40.1 percent of
open interest, held net long positions; their long exposure was
decreased by 41.4 percent and their short exposure was decreased by
30.9 percent.
Non-commercial participants, who accounted for 40.1 percent
of open interest, held net short positions. Their long exposure
was increased by 3.1 percent and their short exposure was decreased
by 25.3 percent.
Non-reportable participants, who accounted for 19.8 percent
of total open interest, held net short positions; their long exposure was increased by 11.9
percent and their short exposure was decreased by 17.8 percent.
CBOT 10-year Treasury Notes
combined open interest increased 2.4
percent in September.
Commercial participants, who accounted for 64.5 percent of
open interest, held net short positions; their long exposure was
increased by 5.2 percent and their short exposure was increased by
7.5 percent.
Non-commercial participants, who accounted for 19.3 percent
of open interest, held net long positions. Their long exposure
was increased by 3.9 percent and their short exposure was decreased
by 3.9 percent.
Non-reportable participants, who accounted for 16.2 percent
of total open interest, held net long positions; their long exposure was decreased by 8.4
percent and their short exposure was decreased by 9.0 percent. CME
S&P 500
combined open interest fell 18.8
percent in September.
Commercial participants, who accounted for 68.1 percent of
open interest, held net short positions; their long exposure was
decreased by 21.3 percent and their short exposure was decreased by
10.2 percent.
Non-commercial participants, who accounted for 10.0 percent
of open interest, held net short positions. Their long exposure
was decreased by 18.8 percent and their short exposure was decreased
by 12.8 percent.
Non-reportable participants, who accounted for 21.9 percent
of total open interest, held net long positions; their long exposure was decreased by 12.0
percent and their short exposure was decreased by 44.0 percent. Metals
NYMEX Gold
combined open interest increased 13.3
percent in September.
Commercial participants, who accounted for 50.7 percent of
open interest, held net short positions; their long exposure was
increased by 2.8 percent and their short exposure was increased by
18.5 percent.
Non-commercial participants, who accounted for 42.8 percent
of open interest, held net long positions. Their long exposure
was increased by 21.3 percent and their short exposure was increased
by 5.1 percent.
Non-reportable participants, who accounted for 6.6 percent
of total open interest, held net long positions; their long exposure was increased by 6.8
percent and their short exposure was decreased by 16.0 percent.
NYMEX Silver
combined open interest increased 13.1
percent in September.
Commercial participants, who accounted for 43.4 percent of
open interest, held net short positions; their long exposure was
decreased by 4.9 percent and their short exposure was increased by
14.0 percent.
Non-commercial participants, who accounted for 44.4 percent
of open interest, held net long positions. Their long exposure
was increased by 18.8 percent and their short exposure was increased
by 15.8 percent.
Non-reportable participants, who accounted for 12.1 percent
of total open interest, held net long positions; their long exposure was increased by 32.2
percent and their short exposure was decreased by 4.7 percent.
NYMEX Copper
combined open interest increased 4.9
percent in September.
Commercial participants, who accounted for 45.7 percent of
open interest, held net short positions; their long exposure was
decreased by 11.1 percent and their short exposure was increased by
12.5 percent.
Non-commercial participants, who accounted for 43.4 percent
of open interest, held net long positions. Their long exposure
was increased by 21.2 percent and their short exposure was decreased
by 1.8 percent.
Non-reportable participants, who accounted for 10.9 percent
of total open interest, held net short positions; their long exposure was increased by 31.4
percent and their short exposure was increased by 2.4 percent.
NYMEX Platinum
combined open interest increased 9.8
percent in September.
Commercial participants, who accounted for 48.3 percent of
open interest, held net short positions; their long exposure was
increased by 1.1 percent and their short exposure was increased by
24.5 percent.
Non-commercial participants, who accounted for 44.3 percent
of open interest, held net long positions. Their long exposure
was increased by 11.3 percent and their short exposure was decreased
by 32.0 percent.
Non-reportable participants, who accounted for 7.4 percent
of total open interest, held net long positions; their long exposure was increased by 11.2
percent and their short exposure was decreased by 21.0 percent. Livestock
CME
Lean Hogs
combined open interest fell 1.9
percent in September.
Commercial participants, who accounted for 33.1 percent of
open interest, held net short positions; their long exposure was
decreased by 2.3 percent and their short exposure was decreased by
13.0 percent.
Non-commercial participants, who accounted for 55.0 percent
of open interest, held net long positions. Their long exposure
was decreased by 1.2 percent and their short exposure was increased
by 6.1 percent.
Non-reportable participants, who accounted for 11.9 percent
of total open interest, held net short positions; their long exposure was decreased by 5.1
percent and their short exposure was increased by 0.2 percent. CME
Live Cattle
combined open interest increased 2.7
percent in September.
Commercial participants, who accounted for 40.6 percent of
open interest, held net short positions; their long exposure was
decreased by 5.3 percent and their short exposure was increased by
2.7 percent.
Non-commercial participants, who accounted for 48.4 percent
of open interest, held net long positions. Their long exposure
was increased by 7.7 percent and their short exposure was increased
by 5.9 percent.
Non-reportable participants, who accounted for 11.0 percent
of total open interest, held net short positions; their long exposure was increased by 10.6
percent and their short exposure was decreased by 5.9 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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