Managed Money net -866 contracts in BUTTER (CASH SETTLED), positions as of Tue 20 Oct 2026.
Data as of Positions as of Tue 20 Oct 2026; published Fri 23 Oct 2026
Positions as of Tue 20 Oct 2026 - published Fri 23 Oct 2026 (CFTC, Friday release)
Report family
Disaggregated
Basis
Futures only
Market
BUTTER (CASH SETTLED) - CHICAGO MERCANTILE EXCHANGE
CFTC contract code
050642
Contract unit
Contracts Of 20,000 Pounds
Open interest, contracts
20,111
Change in open interest, contracts
+681
Latest report, futures only
Category
Long
Short
Spreading
Net
Long % of OI
Short % of OI
Net % of OI
Producer/Merchant/Processor/User
11,900
8,662
-
+3,238
59.2
43.1
16.1
Swap Dealers
5,691
747
1,419
+4,944
28.3
3.7
24.6
Managed Money
0
866
73
-866
0.0
4.3
-4.3
Other Reportables
65
7,998
68
-7,933
0.3
39.8
-39.4
Total reportable
19,216
19,833
-
-617
95.5
98.6
-3.1
Nonreportable
895
278
-
+617
4.5
1.4
3.1
Managed Money: position against its own history
Weekly net, last 156 reports
Managed Money net, contracts
-866
Week change
+36
4-week change
-248
13-week change
-551
Net as % of open interest
-4.3%
Percentile, 1 year (52 weeks)
4
Percentile, 3 years (156 weeks)
1
Z-score, 52 weeks
-2.74
COT Index, 3 years
3
52-week high of net
-22
52-week low of net
-902
Traders and concentration
Category
Traders long
Traders short
Producer/Merchant/Processor/User
31
22
Managed Money
0
4
Other Reportables
-
9
Total reportable
41
38
Largest 4 traders, gross long
36.5%
Largest 4 traders, gross short
47.3%
Largest 8 traders, gross long
55.0%
Largest 8 traders, gross short
69.1%
Largest 4 traders, net long
35.8%
Largest 4 traders, net short
45.8%
Largest 8 traders, net long
53.4%
Largest 8 traders, net short
61.9%
Concentration is the share of open interest held by the largest traders, as published in the report.
Latest report, futures and options combined
Category
Long
Short
Spreading
Net
Long % of OI
Short % of OI
Net % of OI
Producer/Merchant/Processor/User
16,126
14,499
-
+1,627
49.7
44.6
5.0
Swap Dealers
6,097
775
2,975
+5,322
18.8
2.4
16.4
Managed Money
0
886
520
-886
0.0
2.7
-2.7
Other Reportables
92
6,964
5,398
-6,872
0.3
21.4
-21.2
Total reportable
31,208
32,018
-
-810
96.1
98.6
-2.5
Nonreportable
1,269
459
-
+810
3.9
1.4
2.5
The combined basis adds options converted to futures equivalents at exchange delta factors. The two bases are never mixed in one series; the history on this page is futures only.
Open interest by maturity split
All contract months, contracts
20,111
Old crop / nearest months, contracts
20,111
Other months, contracts
0
Recent reports, net by category
Report date
Open interest
Producer/Merchant/Processor/User
Swap Dealers
Managed Money
Other Reportables
Total reportable
Nonreportable
Tue 20 Oct 2026
20,111
+3,238
+4,944
-866
-7,933
-617
+617
Tue 13 Oct 2026
19,430
+2,874
+4,948
-902
-7,511
-591
+591
Tue 6 Oct 2026
18,540
+2,932
+4,594
-833
-7,086
-393
+393
Tue 29 Sep 2026
21,060
+3,100
+5,038
-662
-7,911
-435
+435
Tue 22 Sep 2026
20,218
+2,769
+4,794
-618
-7,355
-410
+410
Tue 15 Sep 2026
19,694
+2,410
+4,805
-644
-7,080
-509
+509
Tue 8 Sep 2026
18,457
+2,275
+4,346
-657
-6,321
-357
+357
Tue 1 Sep 2026
20,728
+1,701
+4,773
-540
-6,396
-462
+462
Tue 25 Aug 2026
18,919
+673
+3,917
-486
-4,633
-529
+529
Tue 18 Aug 2026
18,000
+474
+3,733
-493
-4,222
-508
+508
Spreading is calendar-spread positions. It prints as its own column and is not part of net. Percentile is the share of weeks in the window with a net at or below the current net. The COT Index places the current net within its 3-year range, 0 at the low and 100 at the high. Gauges print only when the window holds enough history. History is the series as currently published by the CFTC, including its corrections; first-release vintages are not kept. An extreme reading is a condition of crowding, not a buy or sell signal: speculative categories are trend followers and are usually largest near price extremes.
Source: CFTC Commitments of Traders, Disaggregated report, futures only unless stated. Positions as of Tue 20 Oct 2026, published Fri 23 Oct 2026.