Cottonseed oil cake futures revive on short covering

Cottonseed oil cake prices recovered by Rs 6.50 to Rs 1,415 per quintal in futures trade today due to short-covering by participants amid a firm trend at the physical markets.

At the National Commodity and Derivative Exchange, cottonseed oil cake for most-traded delivery in May month improved by Rs 6.50 or 0.46 per cent to Rs 1,415 per quintal, clocking an open interest of 1,14,180 lots.

Cottonseed oil cake for delivery in April contract advanced by Rs 6 or 0.43 per cent to Rs 1,394.50 per quintal, depicting an open interest of 1,02,900 lots.

Marketmen attributed the rise in cottonseed oil cake prices to covering-up of short positions, triggered by a firm trend at the spot markets following pick-up in demand from animal feed makers.