Feeder cattle receipts at test auctions followed a normal mid-March seasonal decline and dropped 14,000 head from last week, but still 2,000 head higher than last year. Prices took a very big drop and were mostly $4-6 lower, but instances of $10-12 lower following a fed cattle price drop and dropping CME prices, which lowered hedging ability.
Slaughter cow receipts at the 20 test auctions continue to be about steady and cow meat prices were steady to higher. The slaughter cow prices were mostly steady to $2 lower but a little better at the Eastern auctions that are primarily dairy cattle which evened out the price spreads between the regions. However those auctions that had big numbers were $4-7 lowers.