Cottonseed oilcake futures slip on weak spot cues

Cottonseed oilcake prices dropped by Rs 17 to Rs 2,174 per quintal in futures trade today amid offloading of positions by speculators in weak physical markets.
Marketmen said, a weak trend at the physical markets due to fall in demand for cattlefeed coupled with increased arrivals, mainly led to the fall in cottonseed oilcake prices in futures trading.
At the National Commodity and Derivatives Exchange, cottonseed oilcake for delivery this month slipped by Rs 17, or 0.78 per cent, to Rs 2,174 per quintal, with an open interest of 1,760 lots.
Cottonseed oilcake for delivery in April also fell by Rs 17, or 0.76 per cent, to Rs 2,213 per quintal, in an open interest of 1,13,140 lots.