New Delhi, Sep 8: Cottonseed oil cake prices edged higher in futures trading on Tuesday as traders increased their positions amid steady demand from the cattle-feed industry.
On the National Commodity and Derivatives Exchange (NCDEX), the cottonseed oil cake contract for December delivery rose by Re 1, or 0.03 per cent, to Rs 3,283 per quintal. The contract had an open interest of 7,790 lots.
The mild rise was supported by fresh buying activity as market participants responded to improving demand for cottonseed oil cake, which is mainly used as cattle feed. NCDEX identifies cottonseed oil cake as a key by-product of cottonseed processing and a major feed ingredient for livestock.
Market activity remained focused on demand from the livestock sector, with traders also closely tracking changes in positions and supply conditions. The commodity’s price movement is important for the wider animal-feed market, particularly for dairy and livestock producers.
The latest uptick indicates that demand remains relatively firm, although further price movement is likely to depend on trading activity, cottonseed availability and developments in the cattle-feed market.