Cottonseed oilcake futures succumbs to profit-booking

Cottonseed oilcake prices came down by Rs 22 to Rs 1,513 per quintal in futures trading today after participants preferred to lock-in profits at existing levels amid a weak trend at the physical markets.
Marketmen attributed the fall in cottonseed oilcake prices in futures trade to profit-taking by operators at current levels and a subdued trend in spot markets due to withdrawal of support from animal feed makers against pick up in arrivals from growing regions.
At the National Commodity and Derivatives Exchange, cottonseed oilcake delivery in September surrendered Rs 22, or 1.43 per cent, to Rs 1,513 per quintal, clocking an open interest of 93,430 lots.

Cottonseed oilcake to be delivered in August slipped by Rs 8, or 0.53 per cent, to Rs 1,505 per quintal, with a business turnover of 1,400 open lots.