LEAN HOGS COT report
LEAN HOGS - CHICAGO MERCANTILE EXCHANGE positioning from the CFTC Legacy report. Net positions equal long contracts minus short contracts. Commercial, non-commercial and non-reportable classifications describe participants; they are not buy or sell signals.
Positions as of 2026-10-27. Open interest: 307296 contracts. This is the latest stored observation, not live trading data.
How are traders positioned?
| Category | Long | Short | Net contracts |
|---|---|---|---|
| Non-commercial | 85248 | 167609 | -82361 |
| Commercial | 120555 | 39280 | 81275 |
| Non-reportable | 20953 | 19867 | 1086 |
Non-commercial percentile: 1 across 83 stored observations. This is the share of sampled net positions at or below the latest value, not a price forecast.
Position history in contracts
| Observation date | Non-commercial net |
|---|---|
| 2026-10-27 | -82361 |
| 2026-10-20 | -76730 |
| 2026-10-13 | -81787 |
| 2026-10-06 | -76468 |
| 2026-09-29 | -76231 |
| 2026-09-22 | -68295 |
| 2026-09-15 | -69211 |
| 2026-09-08 | -57989 |
| 2026-09-01 | -62771 |
| 2026-08-25 | -65921 |
| 2026-08-18 | -62655 |
| 2026-08-11 | -55369 |
| 2026-08-04 | -48897 |
| 2026-07-28 | -42430 |
| 2026-07-21 | -48802 |
| 2026-07-14 | -65228 |
| 2026-07-07 | -64421 |
| 2026-06-30 | -62271 |
| 2026-06-23 | -57209 |
| 2026-06-16 | -59342 |
| 2026-06-09 | -42121 |
| 2026-06-02 | -37054 |
| 2026-05-26 | -23609 |
| 2026-05-19 | -7197 |
| 2026-05-12 | -2334 |
| 2026-05-05 | 6451 |
| 2026-04-28 | 16172 |
| 2026-04-21 | 24221 |
| 2026-04-14 | 38052 |
| 2026-04-07 | 46461 |
| 2026-03-31 | 43711 |
| 2026-03-24 | 48145 |
| 2026-03-17 | 63058 |
| 2026-03-10 | 75493 |
| 2026-03-03 | 74970 |
| 2026-02-24 | 68918 |
| 2026-02-17 | 67022 |
| 2026-02-10 | 82895 |
| 2026-02-03 | 79369 |
| 2026-01-27 | 65936 |
| 2026-01-20 | 56397 |
| 2026-01-13 | 41478 |
| 2026-01-06 | 41388 |
| 2025-12-30 | 41333 |
| 2025-12-23 | 37600 |
| 2025-12-16 | 32381 |
| 2025-12-09 | 22584 |
| 2025-12-02 | 23533 |
| 2025-11-25 | 27181 |
| 2025-11-18 | 31437 |
| 2025-11-10 | 45815 |
| 2025-11-04 | 58411 |
| 2025-10-28 | 70963 |
| 2025-10-21 | 82694 |
| 2025-10-14 | 91588 |
| 2025-10-07 | 98940 |
| 2025-09-30 | 103357 |
| 2025-09-23 | 97017 |
| 2025-09-16 | 95098 |
| 2025-09-09 | 91584 |
| 2025-09-02 | 83340 |
| 2025-08-26 | 76068 |
| 2025-08-19 | 69709 |
| 2025-08-12 | 73927 |
| 2025-08-05 | 73138 |
| 2025-07-29 | 74189 |
| 2025-07-22 | 75180 |
| 2025-07-15 | 82803 |
| 2025-07-08 | 90900 |
| 2025-07-01 | 94699 |
| 2025-06-24 | 94956 |
| 2025-06-17 | 96268 |
| 2025-06-10 | 80002 |
| 2025-06-03 | 66576 |
| 2025-05-27 | 58703 |
| 2025-05-20 | 54721 |
| 2025-05-13 | 46757 |
| 2025-05-06 | 37501 |
| 2025-04-29 | 34857 |
| 2025-04-22 | 31296 |
| 2025-04-15 | 18021 |
| 2025-04-08 | 18059 |
| 2025-04-01 | 30477 |
Historical AI commentary — 2026-07-07
This commentary is dated separately from the positioning table. It may describe an earlier market environment.
SUMMARY: Lean Hogs futures show a massive positioning divergence where speculative traders are at their most bearish in history (0.0th percentile) while hedgers are at their most bullish (100.0th percentile), all while prices sit near the top of their 12-month range. This extreme setup suggests a potential mean-reversion move lower, but the small sample size of similar historical weeks means th...
How should this COT report be used?
Use positioning to understand exposure and crowded trades alongside price, liquidity and risk controls. Weekly reports generally describe Tuesday positions released on Friday, subject to the CFTC schedule. Classifications differ in TFF and Disaggregated reports. Compare like-for-like formats and dates.
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