Feeder cattle receipts at the test auctions dropped about 4,000 head at 22,400 head on the heels of the big negative reports and declining prices. Prices were mostly $2-$6 lower but instances more. During spring discussions during the wheat pasture runs, there were a lot higher % of yearling heifers being sold since fewer were retained for breeding which really bumped up the placements for many months. It's a similar story today. Also, very good profits after a long time of big losses promoted bigger placements, especially with the drought movement of feeders.
Slaughter cow receipts dropped at the test auctions which is normal this time of the year and prices were either side of steady from $1 lower to $1 higher. Cow meat prices continue to be close to steady the last couple of weeks. Big news continues to be the impact of the new packing plant near Boise, Idaho.