Figure 1

   LIVE HOGS - CHICAGO MERCANTILE EXCHANGE
   COMMITMENTS OF TRADERS IN ALL FUTURES COMBINED AND INDICATED FUTURES.  SEPTEMBER 29, 1989

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           :  TOTAL   :                           REPORTABLE  POSITIONS                         :
     F     :------------------------------------------------------------------------------------: NONREPORTABLE
     U     :          :       NON-COMMERCIAL               :                 :                  :   POSITIONS
     T     ------------------------------------------------:                 :                  :
     U     :     OPEN :    LONG OR  SHORT:  LONG AND  SHORT:  COMMERCIAL     :     TOTAL        :
     R     :  INTEREST:     ONLY         :  (SPREADING)    :                 :                  :
     E     :          :-------------------------------------------------------------------------------------------
     S     :          :   LONG  :  SHORT :   LONG  :  SHORT:  LONG  :  SHORT :  LONG  :  SHORT  :   LONG  :  SHORT
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           :         :                     (CONTRACTS OF 30,000 POUNDS)
    ALL    :   30,875:   10.386    2.910    2.521     2.521    4.045  6.347    16.952    11,778 :  13.923   19.097
    OLD    :    5,393:    2.251      922        O         O      610    930     2.861     1,852 :   2.532    3.541
    OTHER  :   25,482:    9.601    3.454    1.055     1.055    3.435  5.417    14.091     9,926 :  11.391   15.556
           :         :
           :         :      CHANGES IN COMMITMENTS FROM AUGUST 31, 1989
           :         :
    ALL    :    4,930:    3.590     -325    1.133      1.133     172    517     4.895     1,325:       35    3.605
           :         :
           :         : PERCENT OF OPEN INTEREST REPRESENTED BY EACH CATEGORY OF TRADERS
    ALL    :  100.0% :     33.6      9.4      8.2        8.2    13.1   20.6      54.9      38.1:     45.1     61.9
    OLD    :  100.0% :     41.7     17.1      0.0        0.0    11.3   17.2      53.1      34.3:     46.9     65.7
   OTHER   :  100.0% :     37.7     13.6      4.1        4.1    13.5   21.3      55.3      39.0:     44.7     61.0
           :---------:
           :NUMBER OF:
           :TRADERS  :                 NUMBER OF TRADERS IN EACH CATEGORY
           :---------:
    ALL    :    99   :     51         21       19         19      11     18        74        48:
    OLD    :    33   :     17          7        0          0       4      6        21        13:
    OTHER  :    92   :     48         21        8          8      10     17        63        41:
:-----------------------------------------------------------------------------------------------------------------
           :                               CONCENTRATION RATIOS
           :     PERCENT OF OPEN INTEREST HELD BY THE INDICATED NUMBER OF LARGEST TRADERS
:-----------------------------------------------------------------------------------------------------------------
           :              BY GROSS POSITION                     :                BY NET POSITION
:-----------------------------------------------------------------------------------------------------------------
           :   4 OR LESS TRADERS   :     8 OR LESS TRADERS      :    4 OR LESS TRADERS   :     8 OR LESS TRADERS
:-----------------------------------------------------------------------------------------------------------------
           :    LONG  :    SHORT   :     LONG  :        SHORT   :    LONG   :  SHORT     :     LONG  :     SHORT
:-----------------------------------------------------------------------------------------------------------------
    ALL    :    11.3        15.7          19.7          21.8          9.8        14.1          17.0         18.9
    OLD    :    18.0        20.1          31.3          29.1         18.0        20.1          30.9         29.1
    OTHER  :    13.0        16.7          21.4          23.3         11.3        14.5          18.2         19.7
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