Cattle saw higher prices across the board Tuesday

Good morning, I'm Tom Allen with Market Line Report for April 29, 2015 filling in for Kaydee Gilkey who is a keynote speaker for AgChats in Spokane. Cattle saw higher prices across the board Tuesday. Now from the floor of the CME Group, Todd Horwitz shares his observations of Tuesday's livestock markets.

Horwitz: "We weren't surprised in the cattle market, I'm still bearish, and I haven't changed. I still think cattle markets are going lower. I think there is still is a great sale, in fact in this run it's a better sale which I indicated the other day. You can sell the weight. Can they go higher? Absolutely! But the probability and the likelihood and the speed at which they will go higher is very minimal.

|Chicago July Wheat ended Tuesday up 3 cents at 4-76 and 1/4. July corn ended the day down 1/2 cent at 3-64 and 1/4. Portland prices for soft white wheat of ordinary protein were steady to down 5 to up 3 at mostly 5-94 and 1/4. White club wheat of ordinary protein prices were steady to down 5 and up 3 at mostly 7-64 and 1/4. Hard Red Winter wheat with 11.5 percent protein prices were up 5 and 1/2 to 7 and 1/2 cents at mostly 5-96 and 1/4. DNS wheat with 14 percent protein prices were up 4 cents at mostly 7-63 and 1/2.

June live cattle were up 1 dollar even on Monday at 151.27 and a half. May Feeder cattle were up $1.30 at 212.70. And May class III milk was down 12 cents at 16-37.