Cottonseed oil cake futures recover on short-covering

NEW DELHI: Cottonseed oil cake prices rebounded by Rs 14 to Rs 1,933 per quintal in futures trading today after speculators covered up their short positions at prevailing levels amid a firm trend at the physical markets.

At the National Commodity and Derivative Exchange, cottonseed oil cake delivery for most-active June month contract was trading higher by Rs 14 or 0.73 per cent to Rs 1,933 per quintal, in an open interest of 1,03,460 lots.

Cottonseed oilcake for delivery in current month too rose by Rs 10 or 0.54 per cent to Rs 1,850 per quintal, clocking an open interest of 130 lots.

Marketmen said covering up of short positions by participants and a firm trend at the spot markets on strong demand from cattle-feed makers, helped cottonseed oil cake prices rise at futures market here.