Cotton futures trade down on MCX

Cotton futures traded low on MCX as speculators reduced their holdings on the back of slow buying of mills. Further, the absence of fresh export demand and bearish cues from overseas markets were also seen weighing on sentiment. The contract for June delivery was trading at Rs 19410.00, down by 0.05% or Rs 10.00 from its previous closing of Rs 19420.00. The open interest of the contract stood at 5671.00 lots. The contract for July delivery was trading at Rs 19640.00, down by 0.05% or Rs 10.00 from its previous closing of Rs 19650.00. The open interest of the contract stood at 2536.00 lots on MCX.