Cottonseed oil cake futures slip on muted spot demand

Cottonseed oil cake prices softened by Rs 11 to Rs 1,505 per quintal in futures trade today in line with subdued spot demand.

At the National Commodity and Derivative Exchange, the January month contract of cottonseed oil cake declined by Rs 11 or 0.73 per cent to Rs 1,505 per quintal, with an open interest of 6,660 lots.

The most-traded December month contract also edged lower by Rs 5 or 0.33 per cent to Rs 1,488 per quintal, having a business turnover of 64,730 open lots.

Participants lowered their positions after sluggish demand from animal feed makers and higher supplies from growing regions in spot markets, analysts said.