Managed Money net -3,052 contracts in CHEESE (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
CHEESE (CASH-SETTLED) - CHICAGO MERCANTILE EXCHANGE
CFTC contract code
063642
Contract unit
Contracts Of 20,000 Pounds
Open interest, contracts
34,184
Change in open interest, contracts
+1,695
Latest report, futures only
Category
Long
Short
Spreading
Net
Long % of OI
Short % of OI
Net % of OI
Producer/Merchant/Processor/User
21,482
15,690
-
+5,792
62.8
45.9
16.9
Swap Dealers
7,680
2,050
1,364
+5,630
22.5
6.0
16.5
Managed Money
262
3,314
1,284
-3,052
0.8
9.7
-8.9
Other Reportables
535
9,433
590
-8,898
1.6
27.6
-26.0
Total reportable
33,197
33,725
-
-528
97.1
98.7
-1.5
Nonreportable
987
459
-
+528
2.9
1.3
1.5
Managed Money: position against its own history
Weekly net, last 156 reports
Managed Money net, contracts
-3,052
Week change
+96
4-week change
-223
13-week change
-999
Net as % of open interest
-8.9%
Percentile, 1 year (52 weeks)
6
Percentile, 3 years (156 weeks)
2
Z-score, 52 weeks
-1.26
COT Index, 3 years
4
52-week high of net
-863
52-week low of net
-3,240
Traders and concentration
Category
Traders long
Traders short
Producer/Merchant/Processor/User
33
27
Managed Money
-
14
Other Reportables
-
15
Total reportable
49
61
Largest 4 traders, gross long
51.6%
Largest 4 traders, gross short
36.4%
Largest 8 traders, gross long
71.5%
Largest 8 traders, gross short
55.4%
Largest 4 traders, net long
50.9%
Largest 4 traders, net short
34.9%
Largest 8 traders, net long
69.1%
Largest 8 traders, net short
50.6%
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
28,269
20,479
-
+7,790
57.2
41.4
15.8
Swap Dealers
7,243
3,198
4,768
+4,045
14.6
6.5
8.2
Managed Money
318
3,378
2,577
-3,060
0.6
6.8
-6.2
Other Reportables
535
9,872
4,601
-9,337
1.1
20.0
-18.9
Total reportable
48,312
48,873
-
-561
97.7
98.8
-1.1
Nonreportable
1,132
570
-
+562
2.3
1.2
1.1
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
34,184
Old crop / nearest months, contracts
34,184
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
34,184
+5,792
+5,630
-3,052
-8,898
-528
+528
Tue 13 Oct 2026
32,489
+4,388
+5,820
-3,148
-7,639
-579
+579
Tue 6 Oct 2026
31,467
+4,309
+5,925
-3,240
-7,418
-424
+424
Tue 29 Sep 2026
34,139
+3,094
+6,871
-2,877
-7,557
-469
+469
Tue 22 Sep 2026
32,976
+3,081
+6,270
-2,829
-6,917
-395
+395
Tue 15 Sep 2026
31,221
+2,467
+6,007
-2,723
-6,247
-496
+496
Tue 8 Sep 2026
28,543
+1,516
+6,835
-2,891
-6,024
-564
+564
Tue 1 Sep 2026
32,126
+1,774
+7,486
-2,657
-7,067
-464
+464
Tue 25 Aug 2026
31,045
+1,467
+7,435
-2,430
-7,077
-605
+605
Tue 18 Aug 2026
30,504
+1,035
+7,092
-2,259
-6,524
-656
+656
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.