China stocks continue to weigh on the market

Negotiations with China remain virtually at a standstill. A regional trader told World Beef Report (WBR) that, although some South American exporters lowered their offer prices by 7-8% from the previous week, Chinese importers continue to reject those levels. “The Chinese are still not buying. You tell them it's the best possible price, and they come back with even lower bids,” the source said.