On April 23 June ’12 Live Cattle closed at $1.14/lb. The following day we all heard about the case of Mad Cow that was reported in California. That day we saw limit down prices in the cattle markets. June Live Cattle closed the day at $1.11/lb. Just over a week later cattle prices had moved 4 cents higher to $1.15/lb. While to the common eye that 3 cent and 4 cent swing doesn’t look like much, but for the cattle guy running a feedlot that has 5,000 to 100,000 head those swings make a huge difference in the bottom line.