for June cattle to become front month. Up until two weeks ago I was overloaded with short June with a 164.40 average with an expected drop to test 159 support by mid May. My courage started disappearing last Monday as I started dumping my lower end to balance it out with my long April I was running out of time and I didn't see anything worthy of spreading against my short June. Reality started to set in as I was recognizing that June probably didn't deserve more than a $4 backfill. Friday I wasn't sure June would have any backfill until it went higher. Yesterday was anxiety Monday but that eased with the lower close.

I believe the Bull is alive and well but needing a short term rest, so my downside expectations aren't anywhere near as strong as they were three weeks ago. If we are still in a Bull Market, then expectations that the Bull is always lead by front month rallies which forces me to take my profits, now that I have some with a little more downside follow through tomorrow with orders working at the 161.90-162.20 area. I want to have my deposit in the bank before I place my orders to get long, preferably by Friday morning patiently waiting for a hit on the 50 day mov av at around 161.20. I'm not sure it will even break below 162.00 but I have until Friday to make my deposit and reverse. The Bull has had two weeks of rest with sideways trade and the cycles turn very positive by May 16th-20th. I will probably put a couple long Oct on for a long term trade because ultimately Oct will probably be the contract that gets the honors to plant the Flag @ the Top of the Mountain. The Bull should be ready for another charge as we enter the month of June. These cycles have cattle DNA written all over them.