Mario Manningham probably won't be back for the New York Giants in 2012, and that's 39 receptions that they will miss. Jake Ballard (38 receptions) and Travis Beckum (5 receptions) will start the year on the PUP list.
That's a total of 82 receptions that will be off the board to start the '12 season. They have two traditional Y receivers (an inline TE) still on the roster in Bear Pascoe and Christian Hopkins. Hopkins had no catches, as he spent '11 on the practice squad, although Giants GM Jerry Reese likes him a lot. Pascoe had only 12 receptions.
The upside of having Pascoe and Hopkins is that the Giants have two blockers they trust.
Hopkins is an unknown entity but fans and analysts know what to expect with Pascoe. He's not going to stretch the field, he won't split a cover 2, he'll make some underneath catches, he'll shift into FB. He's a football fan's football player, tough and willing to do anything to help his team.
The biggest loss will be Manningham. With the TE position really being split between traditional Y tight ends and H-Backs, the Giants will need to draft someone who can play both.
Reese really has three options, any of them could be considered a reach. At the same time all three also have the upside potential to yet again make Reese look like a genius.