Cottonseed oil cake prices receded by Rs 12 to Rs 1,913 per quintal in futures trading today following pessimistic selling by operators in line with a weak trend at the physical markets.
Market players said that the fall in cottonseed oil cake prices in futures trading was mostly due to a weak trend in spot markets, triggering trimming positions by speculators.
Fading demand from cattle-feed makers following availability of other alternates at cheaper rates also fuelled the downtrend, they added.
At the National Commodity and Derivative Exchange counter, cottonseed oil cake for delivery for most-active delivery in May month declined by Rs 12 or 0.62 per cent to Rs 1,913 per quintal, revealing an open interest of 78,300 lots.
In a similar manner, the delivery in June month contract fell by Rs 12, or 0.61 per cent to Rs 1,963 per quintal, open interest stood at 77,550 lots.
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