Chicago Mercantile Exchange hogs settled weak Friday on bearish cash hog quotes, sell stops and low-priced Chicago Board of Trade corn.

Live and feeder cattle ended well below negative trading territory. And pork bellies finished steady to lower.

Lean hogs spiked at first in response to late-Thursday's ham-driven pork cutout price hike that stirred short covering. And, early speculative bulls targeted October's oversold Relative Strength Index condition.

By the same token, buying interest fizzled due to uneasiness about 430,000-plus daily hog kills. Spot-October and nearby-December also encountered technical resistance.

Plus, U.S. stocks' initial stumble deterred prospective far-month hog longs.

Steady-to-weak cash hog prices are seen for Monday as processors rely on already contracted hogs.

Traders eagerly await late-Friday's pork cutout price results after Thursday's surprising upturn given plentiful live supplies.

And, spot-October traders will closely track CME's hog index heading into spot-month expiration Oct. 14.

October hogs ended down 17 points at 49.25 cents a pound, and December closed down 7 points at 48.55 cents.

February pork bellies closed 160 points lower at 79.65 cents a pound. March was unquoted. May ended up 5 points at 82.60 cents.

Cattle Complex

CME live cattle closed lower on this week's sub-par cash cattle price outcome, sell stops and bear spreading that sank October to a 10-month bottom.

Live cattle bowed from the start on follow-through selling after futures backed down on Thursday. Disappointing cash cattle news, struggling boxed beef prices and deteriorating beef packer margins exerted added front-month cattle pressure.

Cash-basis cattle moved at mostly $83 versus the bulk of fed cattle last week that brought $84.50.

USDA's midday Friday boxed beef data showed a $1.30 per hundredweight choice cuts drop. Select items slipped $0.34.

The latest operating margin index for beef packers was minus $24.05 per head, compared with minus $11.65 the previous day, as calculated by

Cattle-pit sellers were also swayed by U.S. equities' morning dip and CBOT corn that inched downward as the day wore on.

Live cattle market participants Monday will factor in possible remaining cash cattle business from Friday and look ahead to next week's cash cattle transactions.

Monday will be the first notice day for October live cattle deliveries.

October live cattle closed 115 points lower at 82.95 cents a pound, and December closed 97 points lower at 84.00 cents.

Feeder cattle ended lower as well on residual selling following futures' sharp fall on Thursday, live cattle's selloff and sell stops that yanked front-month feeders to their lowest levels in 10 months.

Furthermore, traders worked November/April bear spreads. And, distant feeder cattle contracts' premiums to CME's feeder cattle index discouraged would-be buyers.

October feeder cattle settled 140 points lower at 93.55 cents, and November closed 135 points lower at 93.57 cents.

-By Theopolis Waters, Dow Jones Newswires; 312-341-5778;