Milk, Class III COT Report
CFTC Commitments of Traders · positions as of Tuesday 2026-09-01, released Sep 4, 2026 (the CFTC reports each Tuesday's close three days later) · next release Sep 11, 2026 (regular cycle; see the release schedule for holiday shifts)
Milk, Class III positioning leans bullish - commercials buying (26w index 84), speculators crowded short (3y index 1).
How this read is built
- Commercials (hedgers) are net long and sit near the top of their 26-week range (COT index 84) - a bullish tilt in the traditional read.
- Large speculators are net short near the bottom of their 3-year range (index 1) - a crowded short, which historically leans bullish for the setup.
A description of how traders are positioned versus their own history - the standard Commitments of Traders interpretation, computed identically for every market. It is not a price forecast, a trading signal, or advice. How traders use positioning · how the read is computed.
As of the COT report, large speculators are net short 10,047 Milk, Class III futures contracts (down 1,051 week-over-week), commercials are net long 12,521, and open interest is 34,567 contracts. Managed money was net short 5,013 contracts as of (down 404 week-over-week).
Cite this data
FuturesBench, "Milk, Class III COT Report," data as of 2026-09-01. https://futuresbench.com/cot/milk-class-iii/#net-position Source: CFTC Commitments of Traders (public domain). CSV: https://futuresbench.com/data/cot/milk-class-iii.csv
Embed this chart
<iframe src="https://futuresbench.com/embed/cot/milk-class-iii/" width="100%" height="560" frameborder="0" loading="lazy" title="Milk, Class III COT Report chart - FuturesBench"></iframe>
Positioning - as of Tuesday 2026-09-01
| Trader category | Net position | Weekly change | % of open interest | COT index 26w | COT index 52w | COT index 3y |
|---|---|---|---|---|---|---|
| Large speculators | -10,047 | -1,051 | -29.1% | 1.9 | 1.9 | 0.7 |
| Commercials | 12,521 | +1,832 | 36.2% | 84.3 | 85.4 | 94.1 |
| Small traders | -2,474 | -781 | -7.2% | 54.1 | 36.9 | 30.2 |
Net = long − short (spread positions cancel). COT index: 0 = most net-short of the lookback, 100 = most net-long. How it's computed.
This week in numbers
- Small traders net position fell by 781 contracts to -2,474 (46.1% w/w) - the largest weekly change since 2026-06-09.
- Commercials net position rose by 1,832 contracts to 12,521 (17.1% w/w) - the largest weekly change since 2026-07-07.
- Open interest rose 8.9% to 34,567 contracts, a 225-week high.
Every sentence above is computed from the stored series - no commentary, no forecasts.
Disaggregated report - positions as of Tue 2026-09-01
| Trader category | Net position | Weekly change | % of open interest | COT index 26w | COT index 52w | COT index 3y |
|---|---|---|---|---|---|---|
| Producer/merchant | 4,689 | +2,135 | 13.6% | 100.0 | 100.0 | 77.0 |
| Swap dealers | 7,832 | -56 | 22.7% | 0.0 | 55.2 | 74.6 |
| Managed money | -5,013 | -404 | -14.5% | 23.8 | 23.8 | 11.9 |
| Other reportables | -5,034 | -678 | -14.6% | 0.0 | 0.0 | 0.0 |
| Small traders | -2,474 | -997 | -7.2% | 54.1 | 34.4 | 30.2 |
Full Disaggregated report history: CSV · switch the chart above to this report family for the full series.
Recent history
| Report date | Open interest | Large spec net | Δ | Commercial net | Δ | Small trader net |
|---|---|---|---|---|---|---|
| 2026-09-01 | 34,567 | -10,047 | -1,051 | 12,521 | +1,832 | -2,474 |
| 2026-08-25 | 31,733 | -8,996 | -31 | 10,689 | +247 | -1,693 |
| 2026-08-18 | 30,277 | -8,965 | -748 | 10,442 | +580 | -1,477 |
| 2026-08-11 | 28,932 | -8,217 | +1,013 | 9,862 | -1,386 | -1,645 |
| 2026-08-04 | 33,650 | -9,230 | -1,306 | 11,248 | +1,044 | -2,018 |
| 2026-07-28 | 32,719 | -7,924 | -250 | 10,204 | +769 | -2,280 |
| 2026-07-21 | 31,606 | -7,674 | +781 | 9,435 | -859 | -1,761 |
| 2026-07-14 | 31,830 | -8,455 | +1 | 10,294 | -17 | -1,839 |
| 2026-07-07 | 31,523 | -8,456 | +1,686 | 10,311 | -1,956 | -1,855 |
| 2026-06-30 | 34,275 | -10,142 | -841 | 12,267 | +594 | -2,125 |
| 2026-06-23 | 32,900 | -9,301 | +327 | 11,673 | -263 | -2,372 |
| 2026-06-16 | 31,205 | -9,628 | -456 | 11,936 | +549 | -2,308 |
| 2026-06-09 | 30,056 | -9,172 | +675 | 11,387 | -2,109 | -2,215 |
| 2026-06-02 | 32,418 | -9,847 | -981 | 13,496 | +1,937 | -3,649 |
| 2026-05-26 | 30,712 | -8,866 | -1,329 | 11,559 | +998 | -2,693 |
| 2026-05-19 | 28,690 | -7,537 | -1,023 | 10,561 | +1,441 | -3,024 |
| 2026-05-12 | 26,794 | -6,514 | -992 | 9,120 | +1,183 | -2,606 |
| 2026-05-05 | 25,720 | -5,522 | +436 | 7,937 | -941 | -2,415 |
| 2026-04-28 | 28,234 | -5,958 | +213 | 8,878 | +128 | -2,920 |
| 2026-04-21 | 27,796 | -6,171 | -531 | 8,750 | +654 | -2,579 |
| 2026-04-14 | 26,829 | -5,640 | -543 | 8,096 | +810 | -2,456 |
| 2026-04-07 | 25,948 | -5,097 | +674 | 7,286 | -971 | -2,189 |
| 2026-03-31 | 28,721 | -5,771 | -52 | 8,257 | +88 | -2,486 |
| 2026-03-24 | 29,148 | -5,719 | -251 | 8,169 | +244 | -2,450 |
| 2026-03-17 | 28,725 | -5,468 | +45 | 7,925 | +118 | -2,457 |
| 2026-03-10 | 28,401 | -5,513 | +1,383 | 7,807 | -572 | -2,294 |
Full history, no login: CSV (1997-10-14 → 2026-09-01) · JSON
Contract facts
FAQ
- Are large speculators long or short Milk, Class III futures?
- As of the 2026-09-01 COT report, large speculators (non-commercial traders) are net short 10,047 contracts in Milk, Class III futures.
- How current is this Milk, Class III COT data?
- The latest report is dated 2026-09-01 (positions as of that Tuesday's close), published by the CFTC on 2026-09-04. This page updates within minutes of each weekly release.
- Where can I download Milk, Class III COT history?
- The full weekly series (1997-10-14 to 2026-09-01) is free at /data/cot/milk-class-iii.csv - no login, no cap.
Learn: how to read this report · commercials vs non-commercials · glossary
Related markets
Source: CFTC Commitments of Traders, legacy futures-only report, contract code 052641. Dataset coverage 1997-10-14 → 2026-09-01. Methodology.