Cotton futures trade lower on sluggish demand

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Cotton futures traded lower on MCX due to sluggish demand from stockists at the spot market. Though, expectation of lower production from major producing belts of China and US, limited the losses in cotton futures.

The contract for November delivery was trading at Rs 15810.00, down by 0.25% or Rs 40.00 from its previous closing of Rs 15850.00. The open interest of the contract stood at 2569.00 lots.

The contract for December delivery was trading at Rs 15880.00, down by 0.19% or Rs 30.00 from its previous closing of Rs 15910.00. The open interest of the contract stood at 6140.00 lots on MCX.

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