“(June live cattle $13 below cash) may limit any further pullback in June, but deferred months have been weaker and could react more negatively if the President does sign the executive order to lower tariffs on beef imports upon returning from the Beijing summit,” the Hightower Report said. “The Wall Street Journal reports that even though China is expected to renew import licenses for hundreds of U.S. beef plants, hurdles still exist on how China handles the regulation of various drugs given to U.S. livestock, like ractopamine, which has caused China to ban U.S. exports previously.”