The Cowboys likely are going to part ways with Mike Jenkins. When that happens, though, is up in the air.
After unsuccessfully attempting to trade him during the draft, it appears Jenkins may remain with the Cowboys until training camp. At that point, a trade would appear to make sense. ESPN's John Clayton reported that a trade likely wouldn't happen until July or August.
Here is the reasoning from Pro Football Talk:
The theory here is that a cornerback-needy team might get desperate in camp, especially if one of its top corners goes down in practice or a preseason game. Jenkins is young, and his base salary is an affordable $1.052 million. He’s been a Pro Bowl-caliber cover guy when healthy.
Speaking of being healthy, Jenkins isn't yet. In January, he underwent shoulder surgery and PFT says he won't be medically cleared to play until training camp. The Colts, Lions and Titans appear to be vying for Jenkins' services.