Cottonseed oil cake futures decline on subdued spot cues

Cottonseed oil cake prices tumbled by Rs 20.50 to Rs 1,452 per quintal in futures trade today as participants reduced their exposure in line with a weak trend at the physical markets.

Marketmen attributed the fall in cottonseed oil cake prices in futures market to trimming of positions by participants in sync with a weak trend at the physical markets owing to absence of necessary buying activity from animal feed makers against ample stocks.

At the National Commodity and Derivatives Exchange, cottonseed oil cake delivery for the most-active July month contract slipped by Rs 20.50 or 1.39 per cent to Rs 1,452 per quintal, with an open interest of 1,49,870 lots.

In similar way, cottonseed oil cake for delivery in August month contracts also receded by Rs 19.50 or 1.28 per cent to Rs 1,499 per quintal, with an open interest of 49,370 lots.