Wednesday Closing Livestock

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With lower cash trade today at $75, feedlots seem to be willing sellers in any effort to stay current. Demand needs to improve and usually does this time of year, but the press has really gone wild with the Mad Cow/H&M stories, which may slow the demand. We had the same type of cash-connected selling today, which leads me to believe that cash probably comes in lower next week. The funds have been mild sellers up to this point and buyers today were not aggressive. I'll be watching to see how the 70.50 area holds up in June. It's a bit of a stretch, but the bulls may get some help out spreaders buying cattle and selling hogs at these levels.

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