Feeder Cattle receipts at the test auctions continue to drop on the heels of last week’s big price declines. The recent rebound on the CME Feeder cattle futures helped the prices at the auctions improve some on Wednesday, but they had seen the biggest decline last week so feeder prices basically evened out more. The bulk of the yearling feeder cattle prices headed to feedlots were either side of steady from $1 lower to $1 higher but the lighter weights plummeted more.
Slaughter cow receipts at the test auctions are following normal seasonal declines and about 800 lower than the previous week but definitely higher than last year. Prices were mostly $2-4 lower for the week even though the cow cutout was slightly higher on Wednesday compared to the previous Wednesday, but the 90 percent trimmings were almost $1 lower compared to last week.