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Indian-Commodity  :  Commodities  :  Cotton  :  Cotton futures edge lower on weak demand

Cotton futures edge lower on weak demand (11-May-2018)

Cotton futures edged lower on MCX due to weak demand from domestic mills at the spot market. Though, some losses were capped as US Department of Agriculture (USDA) showed a slight reduction to 2017/18 cotton production.

The contract for May delivery was trading at Rs 20620.00, down by 0.39% or Rs 80.00 from its previous closing of Rs 20700.00. The open interest of the contract stood at 8448 lots.

The contract for June delivery was trading at Rs 20900.00, down by 0.38% or Rs 80.00 from its previous closing of Rs 20980.00. The open interest of the contract stood at 1167 lots on MCX.

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