Feeder cattle receipts at the test auctions dropped again, as sellers became more cautious following the big placement numbers on the Cattle on Feed report. Prices, however, were either side of steady with continued strength on the heavier feeders aimed at the April fed cattle which returned back up to $120. The bottom end of the price ranges actually improved the most because the previous week had early sales that were really low after the Cattle on Feed report impacted Monday sales.
Slaughter cow receipts continue their normal fall increases in volume at our 20 test auctions with 7,100 head. But prices were steady to $3 higher on the heels of higher cow cutout on Monday and Tuesday which really helped out those early week auctions. Unfortunately, midweek cow meat prices dropped quite a bit.