Cottonseed oilcake futures down on weak spot cues

Cottonseed oilcake prices drifted lower by Rs 12 to Rs 2,210 per quintal in futures trading today as participants cut down their positions, triggered by a weak trend at the physical markets.
Marketmen said, the fall in cottonseed oilcake prices was mostly attributed to offloading of positions by traders in view of a weak trend at the physical markets on muted demand amid increased arrivals.
At the National Commodity and Derivatives Exchange, cottonseed oilcake for delivery in January eased by Rs 12 or 0.54 per cent, to Rs 2,210 per quintal, in an open interest of 1,630 lots.
While, most-active delivery in February faded by Rs 12, or 0.53 per cent to Rs 2,234 per quintal, clocking an open interest of 93,350 lots.