High futures

Chicago Mercantile Exchange (CME) live cattle futures rose on Tuesday, supported by a setback in prices for corn – a key feed grain.

• Commodities, such as crude oil, saw steep declines due to fears that rising US and European interest rates might slow the economy. So, consumer demand for fuel, beef, and other goods was curbed.
• Labor Day, on September 5, could limit meat packers' immediate needs for cattle due to the shortened week.

And here’s an overview of the week so far:

• In the US wholesale beef market, choice and select cuts fell.
• Lean hog futures rose for a second straight session. 
• Wholesale pork prices declined and pork carcass value fell.