Cottonseed oil cake futures dip on weak physical sentiment

Cottonseed oil cake prices fell Rs 31 to Rs 1,754.50 per quintal in futures trade today on offloading of positions by participants amid a weak trend in the domestic spot markets.

At the National Commodity and Derivative Exchange, cottonseed oil cake for delivery in January slipped Rs 31, or 1.74 per cent, to Rs 1,754.50 per quintal with a business turnover of 34,440 lots.

Likewise, the delivery for February contracts dropped Rs 29, or 1.45 per cent, to Rs 1,770 per quintal with a business turnover of 80,650 open lots.

Marketmen said a weak trend in spot markets due to constant supplies amid scattered demand from animal feed makers led to fall in prices.