June cattle pushed fell lower during yesterday's trading session and reached a 5-session low as weakness in outside market forces, a negatively-received cold storage report and a sloppy tone for the cash market were all seen to have helped pressure futures prices. Weakness in hogs also added to the negative tone of the market. The macro economic environment remains in flux, and this can sometimes translate to a turn for the worst for consumer sentiment for beef. However, with a little stability in global markets and a sharp drop in gasoline prices, short-term consumer demand might improve from current market expectations. Cash cattle are trading near $121.00 this week, down $2.00 from last week. With the US dollar pushing to a new high for the move and a sharp break in equity and commodity markets, global economic concerns persist and many traders are fearful that this could translate into weaker consumer confidence in the US and lower beef prices. However, boxed beef cutout values were up 73 cents at mid-session yesterday and closed $1.09 higher at $195.37. This was up from $190.98 the prior week and is the highest beef market since March 8th. The USDA Cold Storage report showed April frozen beef stocks up 17% from last year and up 3% from the previous month. The news was considered negative for cattle futures, as beef stocks typically decline by 2% in April. The estimated cattle slaughter came in at 124,000 head yesterday. This brings the total for the week so far to 376,000 head, down from 377,000 head last week at this time and down from 386,000 head a year ago.