Cottonseed oilcake futures weaken on muted spot demand

Cottonseed oilcake prices slipped by Rs 14 to Rs 1,921 per quintal in futures trading today as participants trimmed their bets, tracking a weak trend at the spot markets.
At the National Commodity and Derivatives Exchange, cottonseed oilcake for delivery in January declined by Rs 14, or 0.72 per cent, to Rs 1,921 per quintal, with an open interest of 55,500 lots.
Also, cottonseed oilcake for delivery in far-month February was trading lower by Rs 11, or 0.56 per cent, to Rs 1,954 per quintal, having an open interest of 34,880 lots.
Marketmen said reducing of positions by participants in tune with a weak trend at the spot markets on muted demand, led to the decline in cottonseed oilcake prices at futures trade.