Livestock Prices Higher Across The Board

I'm Matt Rice with the Market Line Report for Jan 27th. Livestock seeing higher prices across the board in both live and feeder cattle, could be a good place to buy, according to Todd Horwitz. Here's Todd as his explains the livestock market from the floor of the CME in Chicago.

Horwitz- "Tuesday's Livestock, prices higher across the board. I think we can see evidence that the levels we talked about the last couple of weeks are going to hold. We saw the big dip down, short covering rally and pull back as we talked about last week. Probably a good spot to buy. Now, I think you look at live cattle the $1.30 area I think that's a great place to jump in. Again, I think if you're an owner obviously you want to see higher prices. I think that $1.30 is a nice level."

Chicago March Wheat ended the day up 3 ¼, at 484 1/4. March corn ended yesterday dn 1/2, at 368 ¾. Portland prices for soft white wheat of ordinary protein for Jan were unchanged to up 3 ¼, ranging from 5-30 to 5-49 ¾. Hard Red Winter wheat with 11 ½ % protein, prices for Jan were up 2 ¾ - 12 ¾, ranging from 5-61 ¾ to 5-81 ¾. DNS wheat with 14 % protein, prices for Jan were up 3 ¾, ranging from 6-08 ½ to 6-28 ½. Feb Live cattle closed the day up $1.12 1/2, at 132.55. Jan Feeder cattle were up 75 cents on the day, at 167.97 ½. Jan class III milk was up a penny, at 13-73.