Cottonseed futures extend losses

Cottonseed oilcake prices dropped further by Rs 33 to Rs 4,012 per quintal in futures trade today as participants engaged in trimming positions amid a weak trend at the physical markets.

Marketmen said weak demand in the spot markets from cattle-feed industries amid increased supplies from growing regions, mainly weighed on cottonseed futures.

At the National Commodity and Derivatives Exchange, cottonseed for delivery in far-month April moved down by Rs 33, or 0.82 per cent, to Rs 4,012 per quintal, showing an open interest of 11,270 lots.

The most-active delivery in March also lost another Rs 29, or 0.73 per cent, to Rs 3,955 per quintal, in an open interest of 63,660 lots.