Milk, Class III COT Report
CFTC Commitments of Traders · positions as of Tuesday 2026-10-20, released Oct 23, 2026 (the CFTC reports each Tuesday's close three days later) · next release Oct 30, 2026 (regular cycle; see the release schedule for holiday shifts)
Milk, Class III positioning leans bullish - commercials buying (26w index 75), speculators crowded short (3y index 10).
How this read is built
- Commercials (hedgers) are net long and sit near the top of their 26-week range (COT index 75) - a bullish tilt in the traditional read.
- Large speculators are net short near the bottom of their 3-year range (index 10) - 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 11,495 Milk, Class III futures contracts (up 1,610 week-over-week), commercials are net long 13,630, and open interest is 35,068 contracts. Managed money was net short 8,030 contracts as of (up 851 week-over-week), holding 55 long and 8,085 short.
Cite this data
FuturesBench, "Milk, Class III COT Report," data as of 2026-10-20. 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 2026-10-20
| Trader category | Net position | Weekly change | % of open interest | COT index 26w | COT index 52w | COT index 3y |
|---|---|---|---|---|---|---|
| Large speculators | -11,495 | +1,610 | -32.8% | 21.2 | 20.1 | 9.5 |
| Commercials | 13,630 | -1,932 | 38.9% | 74.7 | 76.7 | 89.6 |
| Small traders | -2,135 | +322 | -6.1% | 69.7 | 64.6 | 38.9 |
Net = long − short (spread positions cancel). COT index: 0 = most net-short of the lookback, 100 = most net-long. How it's computed.
Disaggregated report - positions as of Tue 2026-10-20
| Trader category | Net position | Weekly change | % of open interest | COT index 26w | COT index 52w | COT index 3y |
|---|---|---|---|---|---|---|
| Producer/merchant | 8,903 | -1,740 | 25.4% | 84.7 | 86.8 | 86.8 |
| Swap dealers | 4,727 | -192 | 13.5% | 2.5 | 1.9 | 53.9 |
| Managed money | -8,030 | +851 | -22.9% | 11.1 | 11.1 | 6.7 |
| Other reportables | -3,465 | +759 | -9.9% | 56.5 | 56.5 | 30.9 |
| Small traders | -2,135 | +322 | -6.1% | 69.7 | 64.6 | 38.9 |
Full Disaggregated report history: CSV · switch the chart above to this report family for the full series.
Milk, Class III managed money positions, week by week
Managed money long, short and net position in Milk, Class III futures for the last 26 weekly COT reports (positions as of each Tuesday), from the CFTC Disaggregated futures-only report. Short = long minus net; spread positions are excluded from both.
| Report date | Managed money long | Managed money short | Managed money net | Weekly change | Producer/merchant net | Swap dealers net |
|---|---|---|---|---|---|---|
| 55 | 8,085 | -8,030 | +851 | 8,903 | 4,727 | |
| 0 | 8,881 | -8,881 | -1,042 | 10,643 | 4,919 | |
| 0 | 7,839 | -7,839 | -888 | 9,537 | 5,005 | |
| 109 | 7,060 | -6,951 | -120 | 10,429 | 4,593 | |
| 103 | 6,934 | -6,831 | -835 | 8,351 | 5,250 | |
| 244 | 6,240 | -5,996 | -573 | 7,282 | 5,387 | |
| 291 | 5,714 | -5,423 | -410 | 6,083 | 5,833 | |
| 129 | 5,142 | -5,013 | +92 | 4,689 | 7,832 | |
| 30 | 5,135 | -5,105 | -496 | 3,307 | 7,382 | |
| 145 | 4,754 | -4,609 | +181 | 2,554 | 7,888 | |
| 95 | 4,885 | -4,790 | -164 | 1,868 | 7,994 | |
| 100 | 4,726 | -4,626 | -902 | 2,183 | 9,065 | |
| 144 | 3,868 | -3,724 | +656 | 1,503 | 8,701 | |
| 122 | 4,502 | -4,380 | +1,230 | 537 | 8,898 | |
| 329 | 5,939 | -5,610 | +590 | 1,199 | 9,095 | |
| 159 | 6,359 | -6,200 | -95 | 1,174 | 9,137 | |
| 0 | 6,105 | -6,105 | -684 | 2,274 | 9,993 | |
| 60 | 5,481 | -5,421 | +174 | 2,345 | 9,328 | |
| 0 | 5,595 | -5,595 | -264 | 2,923 | 9,013 | |
| 0 | 5,331 | -5,331 | +74 | 2,441 | 8,946 | |
| 0 | 5,405 | -5,405 | -315 | 3,459 | 10,037 | |
| 0 | 5,090 | -5,090 | -1,452 | 2,161 | 9,398 | |
| 0 | 3,638 | -3,638 | -784 | 1,681 | 8,880 | |
| 0 | 2,854 | -2,854 | -700 | 322 | 8,798 | |
| 56 | 2,210 | -2,154 | -932 | -762 | 8,699 | |
| 82 | 1,304 | -1,222 | +160 | -504 | 9,382 |
Every week back to 2006: Milk, Class III disaggregated CSV.
Recent history
| Report date | Open interest | Large spec net | Δ | Commercial net | Δ | Small trader net |
|---|---|---|---|---|---|---|
| 2026-10-20 | 35,068 | -11,495 | +1,610 | 13,630 | -1,932 | -2,135 |
| 2026-10-13 | 34,809 | -13,105 | -1,566 | 15,562 | +1,020 | -2,457 |
| 2026-10-06 | 33,020 | -11,539 | +448 | 14,542 | -480 | -3,003 |
| 2026-09-29 | 36,020 | -11,987 | -1,185 | 15,022 | +1,421 | -3,035 |
| 2026-09-22 | 34,260 | -10,802 | -922 | 13,601 | +932 | -2,799 |
| 2026-09-15 | 32,897 | -9,880 | -732 | 12,669 | +753 | -2,789 |
| 2026-09-08 | 31,351 | -9,148 | +899 | 11,916 | -605 | -2,768 |
| 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 |
Full history, no login: CSV (1997-10-14 → 2026-10-20) · JSON
Contract facts
FAQ
- Are large speculators long or short Milk, Class III futures?
- As of the 2026-10-20 COT report, large speculators (non-commercial traders) are net short 11,495 contracts in Milk, Class III futures.
- What is the managed money position in Milk, Class III futures?
- As of the 2026-10-20 COT report, managed money traders are net short 8,030 contracts (55 long, 8,085 short) in Milk, Class III futures. The week-by-week table on this page lists the last 26 reports.
- How current is this Milk, Class III COT data?
- The latest report is dated 2026-10-20 (positions as of that Tuesday's close), published by the CFTC on 2026-10-23. 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 2026-10-20) 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 → 2026-10-20. Methodology.