Feeling low and close to dismayed (4)
I believe the answer is:
mood
'feeling' is the definition.
(mood is a kind of feeling)
'low and close to dismayed' is the wordplay.
'low' becomes 'moo' (both can mean to make the noise of a cow).
'and' is a charade indicator (letters next to each other).
'close to' indicates one should take the final letters (the 'close' to the word).
The last letter of 'dismayed' is 'd'.
'moo'+'d'='MOOD'
(Other definitions for mood that I've seen before include "at times appears very high" , "Bad feeling" , "Emotional state" , "sullenness may be indicative" , "melancholy" .)