Silver Open Interest Update 12/13/11

Open interest in silver actually slightly increased Monday to 97,262.  Silver is now trading in contango from spot through the Dec 13 contract, entering backwardation with the July 2014 contract, with backwardation increasing through the July 2016 contract, which settled at a 0.569 discount to spot.
Silver Open Interest Update 12/13/11

Daily Settlements for Silver Futures Trade Date: 12/13/2011
Month	Open	High	Low	Last	Change	Settle	Estimated Volume	Prior Day Open Interest
DEC 11	31.275	31.400	31.075	-	+.260	31.195	35	344
JAN 12	31.260	31.975	30.990	-	+.260	31.205	493	615
FEB 12	-	-	-	-	+.268	31.245	27	8
MAR 12	31.340	32.040	30.940	-	+.258	31.260	31,384	53,150
MAY 12	31.420	32.055	31.070	-	+.261	31.315	616	8,012
JLY 12	31.570	31.570	31.285	-	+.262	31.359	74	2,939
SEP 12	31.410	31.410	31.410	-	+.263	31.395	2	2,054
DEC 12	31.570	31.570	31.330	-	+.265	31.441	60	13,284
JAN 13	-	-	-	-	+.268	31.437	-	11
MAR 13	31.155	31.155	31.155	-	+.268	31.428	1	1,155
MAY 13	-	-	-	-	+.268	31.399	-	1,021
JLY 13	-	-	-	-	+.271	31.371	-	3,187
SEP 13	-	-	-	-	+.271	31.332	-	165
DEC 13	-	-	-	-	+.274	31.266	-	8,240
JLY 14	Backwardation-	Starts-	Here-	>-	+.274	31.124	-	767
DEC 14	-	-	-	-	+.274	31.056	-	1,458
JLY 15	-	-	-	-	+.274	30.891	-	235
DEC 15	-	-	-	-	+.274	30.759	-	579
JLY 16	-	-	-	-	+.274	30.626	-	38
Total							32,692	97,262