Cotton and cottonseed oil cake markets see shifts in demand and production forecasts

Cotton markets have seen recent volatility following USDA WASDE reports. Cotton futures rose last week due to speculative buying and strong weekly export sales, though they are currently undergoing a correction. The USDA has adjusted its production forecast down to 13.61 million bales from 13.7 million, while demand remains steady at 13.90 million bales. Crop conditions are reported to be behind previous year levels, with recent deterioration noted as bolls begin to open.

In the cottonseed oil cake market, futures saw a marginal increase on the National Commodity and Derivatives Exchange. Prices edged up to Rs 4,282 per quintal for August delivery. This movement is attributed to speculators creating fresh positions driven by rising demand for cattle feed.