Cottonseed oilcake futures fall on weak spot demand

Cottonseed oilcake prices were lower by Rs 17 to Rs 2,167 per quintal in futures trading today after speculators trimmed their bets, triggered by a weak trend at the physical markets.
Marketmen attributed fall in cottonseed oilcake prices at futures market to a subdued trend at the domestic physical markets owing to weak demand, particularly from cattle-feed industries.
At the National Commodity and Derivative Exchange, cottonseed oilcake for delivery in most-active April contracts slipped by Rs 17 or 0.78 per cent to Rs 2,167 per quintal, with an open interest of 97,400 lots.
Cottonseed oilcake for delivery in May also eased by Rs 14 or 0.63 per cent to Rs 2,205 per quintal, in an open interest of 64,080 lots.