My two cents, Do not cut any age group if there is any possible way to keep it. We need to expand wrestling if at all possible, not cut it.
I know that is not always feasable but give it a shot first. Who knows one of these 16 year olds will get just another shot of confidence that could propel him into a DI or DII program.
It might meen that a few more parents might have to step and volunteer to help out.
Think Positive, after all that is what we tell our kids.