CHICAGO (Dow Jones)--Chicago Mercantile Exchange hogs settled mixed Monday with end-of-month position squaring, sell stops and spreaders who bought October and February and sold December.

February pork bellies closed weak. Live ended flat to lower while feeder cattle finished below board.

Lean hogs initially sank on profit-taking after Friday's short-covering rally and that evening's pork cutout stumble. Also, sell stops and early-week buyer trepidation at first rattled futures.

Steady-to-lower cash hog price quotes, negative U.S. stock market activity and generally flat Chicago Board of Trade corn later exerted distant-month lean hog pressure.

Nonetheless, some hog months landed on the plus-side of the ledger after those who were short the market claimed profits during the otherwise lackluster session.

Cash hog bids are seen Tuesday as being flat to possibly weak. Packers and processors are expected to begin winding down their operations as the Labor Day holiday approaches.

Pork cutout values over the next few days will be used to gauge wholesale fresh pork buying interest heading into the three-day holiday weekend.

Market volatility could also become an issue Tuesday as more traders empty the pit in preparation for what for some will be an extended holiday vacation.

October hogs ended up 7 points at 48.15 cents a pound, and December closed down 22 points at 46.22 cents.

February pork bellies closed down 25 points at 76.25 cents a pound on profit-taking after Friday's upturn and sell stops in the lightly traded contract. Other belly months were unquoted.

Cattle Complex

CME live cattle closed flat to lower on sell stops, U.S. stocks' withdrawal and traders who sold August and December and bought October.

Live cattle began the morning in slightly bearish trading territory on more selling after Friday's lower settlement. Floor buyers who had already factored in last week's cash trade took a wait-and-see attitude about this week's potential cash cattle price outcome.

Cash-basis fed cattle last week went for mostly $85 per hundredweight, compared with $83 to mostly $83.50 last week.

"Packers bought a fair number of cattle last week, but this week is a toss-up because of the Labor Day holiday," a brokerage firm's cattle trader said. "Cash cattle could move early in the week or wait until the last minute on Friday."

Until then, traders on Tuesday will focus on October, which will spend its first full day as the lead contract after August had expired Monday at 1 p.m. EDT.

Feeder cattle finished lower on live cattle selling, sell stops and back-month bearish premiums to CME's feeder cattle index.

Spreaders also implemented bear spreads.

August live cattle closed 197 points lower at 82.67 cents a pound, and October finished down 2 points at 86.67 cents.

September feeder cattle settled 90 points lower at 97.25 cents, and October ended 62 points lower at 97.42 cents.

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