HOUSTON --
This week’s Commodity Futures Trading Commission (CFTC) disaggregated commitments
of traders (DCOT) report was released at 15:30 ET Friday. Our recap of the
changes in weekly positioning by the disaggregated trader classes, as compiled
by the CFTC, is just below. As we have
done for some time now, this week we are also adding in the net positioning of
traders the CFTC classes as “Commercial” in the Legacy COT report.
(DCOT
Table for August 2 and Legacy COT commercial positioning for data as of the
close on Tuesday, July 30. Source CFTC
for COT data, Cash Market for gold and silver.)
In the
DCOT table above a net short position shows as a negative figure in red. A net
long position shows in black. In the Change column, a negative number indicates
either an increase to an existing net short position or a reduction of a net
long position. A black figure in the Change column indicates an increase to an
existing long position or a reduction of an existing net short position. The way to think of it is that black
figures in the Change column are traders getting “longer” and red figures are
traders getting less long or shorter.
All of the
trader’s positions are calculated net of spreading contracts as of the Tuesday
disaggregated COT report.
We also
focus on the Legacy COT positioning of traders deemed “Commercial” by the CFTC,
which includes Producers, Merchants, Processors and Users, plus Swap Dealers in
a single category. The Legacy COT report
preceded the Disaggregated COT report and we have tracked and charted it for
many years, focusing on the movement and positioning of commercial traders –
The “Big Hedgers.”