Silver Open Interest Update 11/11/11

Open interest in silver declined a net 2,162 contracts to 107,527.  Backwardation has also slightly eased over the past week, with silver now trading in contango from spot through July of 2013.  Backwardation now begins in the Sept 2013 contract, and increases to 0.91 with the July 2016 contract.

Daily Settlements for Silver Futures (PRELIMINARY) Trade Date: 11/11/2011
Month	Open	High	Low	Last	Change	Settle	Estimated Volume	Prior Day Open Interest
NOV 11	-	-	-	-	+.576	34.671	-	73
DEC 11	34.070	34.850	33.665	34.825	+.576	34.682	31,808	41,156
JAN 12	33.930	34.715	33.730	-	+.578	34.706	231	215
MAR 12	34.100	34.910	33.825A	-	+.582	34.751	8,087	27,844
MAY 12	34.510	34.720	34.510	-	+.582	34.785	979	4,591
JLY 12	34.700	34.700	34.700	-	+.584	34.817	229	3,253
SEP 12	-	-	-	-	+.588	34.844	18	1,732
DEC 12	34.250	34.950	34.250	-	+.593	34.874	338	13,237
JAN 13	-	-	-	-	+.593	34.855	2	10
MAR 13	-	-	-	-	+.594	34.820	12	1,075
MAY 13	-	-	-	-	+.595	34.761	55	189
JLY 13	34.060	34.060	34.060	-	+.593	34.709	40	3,115
SEP 13	Backwardation-	Starts-	Here-	-	+.593	34.663	-	-
DEC 13	33.970	34.610	33.925	-	+.593	34.615	7	8,235
JLY 14	-	-	-	-	+.595	34.467	53	664
DEC 14	-	-	-	-	+.595	34.362	-	1,356
JLY 15	-	-	-	-	+.595	34.118	-	186
DEC 15	-	-	-	-	+.595	33.997	-	572
JLY 16	-	-	-	-	+.595	33.772	-	24
Total							41,859	107,527