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THE CONSENSUS® REPORT OF THE COMMITMENTS OF TRADERS MARKET COMPOSITION

THE CONSENSUS REPORT OF THE COMMITMENTS OF TRADERS MARKET COMPOSITION
Derived from the Bi-Weekly Report Published by the Commodity Futures Trading Commission*
Showing Percentage Each Group Comprises of Each Market and Percentage of Each Group in Long Positions
    Reportable Positions     Nonreportable
Exchange   Non-Commercial Commercial** Total Positions***
and   Long or Short Long and Short Long or Short Reportable    
Commodity   Only (Spreading) Only Positions    
  Reporting Pct. Pct. Pct. Pct. Pct. Pct. Pct. Pct. Pct. Pct.
  Level of Mkt. Long of Mkt. Long of Mkt. Long of Mkt. Long of Mkt. Long
Lean Hogs (CME) 50 Ctrs. 26.14 78.72 8.47 50 39.91 37.13 74.53 53.18 25.47 40.71
Last Reporting Period   25.32 78.91 7.14 50 42.02 39.23 74.47 53.75 25.53 39.05
Pork Bellies (CME) 25 Ctrs. 27.87 66.77 4.22 50 13.58 39.88 45.67 57.22 54.33 43.93
Last Reporting Period   28.35 68.86 0.97 50 15.38 48.67 44.70 61.50 55.30 40.70
Live Cattle (CME) 100 Ctrs. 20.99 67.56 7.09 50 42.22 49.25 70.30 54.80 29.70 38.65
Last Reporting Period   23.20 69.12 6.85 50 41.07 47.82 71.12 54.98 28.88 37.74
Feeder Cattle (CME) 50 Ctrs. 26.32 77.72 7.25 50 28.27 53.29 61.84 63.30 38.16 28.45
Last Reporting Period   26.11 70.23 5.17 50 29.18 55.61 60.47 61.44 39.53 32.50
* Reporting positions as of November 30, 1999. ** Futures contracts used for hedging. *** Positions that are below the reporting levels.
* Released from Commodity Futures Trading Commission on December 3, 1999.
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