Frank, you just nailed it. I have been following  this thread and cannot believe some of the responses. Like you said supply and demand, its simple. One thing I will add, just look in your own backyard  how many cows have went to town.  When you drive around in your communtity  how many farms do you drive past that once had cows and now the fences are reaped out and row crops are grown. Those farms will most likely never have livestock again. Are we near the top? I do not think so. We will drop from these prices?  Sure.  When you only have so many buyers for your product they will find a way to drive the prices down, but right now they are caught with their pants down, but in time they will regain control!