CHICAGO (Dow Jones)--Chicago Mercantile Exchange hogs settled lower Monday on negative market-related fundamentals, sell stops and spreading out of back months into forward contracts.

Pork bellies ended sharply lower. Feeder cattle ended weak. And most live cattle closed down slightly.

Lean hogs slipped at first on futures selling that spilled over from Friday and that evening's pork cutout price setback. Steady to $1-per-hundredweight-lower cash hog quotes discouraged prospective futures buyers.

A few bulls on spot-October lean hogs bid farewell to the contract as it prepares to expire from trading Oct. 14.

October and December setoff sell stops after both contracts briefly moved below their respective 40-day moving average support levels.

Futures maintained a bearish tone despite technically oversold front months, U.S. stocks' comeback and Chicago Board of Trade corn's rally.

Flat to weak cash hog bids are forecast for Tuesday amid ample live supplies and fresh pork demand uncertainty.

By day's end, October settled slightly above 40-day moving average support. December, however, closed below its 40-day moving average level. Both month options remain oversold based on their Relative Strength Index charts heading into Tuesday.

October hogs ended down 20 points at 49.05 cents a pound, and December closed 95 points lower at 47.6 cents.

Pork bellies finished down sharply on futures' losses that carried over from Friday, sell stops and lean hogs' selloff.

Spreaders sold May and July and bought February.

CME's weekly belly storage report will be released Tuesday after 5 p.m. EDT.

February pork bellies closed 195 points lower at 77.7 cents a pound, and March closed 210 points lower at 76.3 cents.


Cattle Complex

CME live cattle closed mostly weak on residual fallout from last week's disappointing cash cattle price results, bear spreading and sell stops.

Live cattle fluctuated throughout the morning. Dejected bullish traders exited the market after cash cattle prices fell shy of the prior week's results.

Cash-basis fed cattle last week brought mostly $83 per hundredweight versus generally $84.50 the previous week.

By the same token, several contracts' drop to new seasonal lows last Friday piqued the interest of those "looking for value."

Uninspiring boxed beef prices and sullen beef packer profit margins exerted added market pressure. However, October and December oversold chart conditions, higher CBOT corn and U.S. equities' advances stirred buying on live cattle breaks.

At one point October live cattle drifted to its lowest level in 10 months. Several deep cattle contracts again fell to new seasonal lows where willing buyers were waiting.

Live cattle traders Tuesday will have their feelers out for potential deliveries as spot-October readies for expiration Oct. 30.

October settled down 27 points at 82.67 cents a pound, and December closed down 10 points at 83.9 cents.

Feeder cattle ended weak, and October and November initially sank to 10-month lows, on sell stops, CBOT corn's runup and spreading out of November and January into October.

Back-month feeder cattle premiums to CME's feeder cattle index deterred far cattle month buyers.

Also, spot-October selling developed before the contract's Oct. 29 expiration date.

And distant feeder cattle contracts' premiums to CME's feeder cattle index deterred would-be buyers.

October feeder cattle settled down 20 points at 93.35 cents, and November closed down 27 points at 93.3 cents.

-By Theopolis Waters; Dow Jones Newswires; 312-341-5778; theopolis.waters@dowjones.com