Cottonseed oilcake futures recover Rs 22 per quintal

Cottonseed oilcake prices were higher by Rs 22 to Rs 2,011 per quintal in futures trading today after participants built up positions at prevailing lower level amid a weak trend at the physical markets.
Marketmen said building up of positions at prevailing attractive low level by participants coupled with rising demand in the spot markets from cattle feed makers, mainly led to rise in cottonseed3d oil prices in futures trading.
At the National Commodity and Derivative Exchange, cottonseed oilcake for most-active delivery in January contracts spurted by Rs 22 or 1.11 per cent to Rs 2,011 per quintal, with an open interest of 59,070 lots.

On similar lines, delivery in far-month February contracts also gained Rs 20 or 0.99 per cent to Rs 2,040 per quintal, in a business turnover of 34,260 open lots.