TREASURIES-Bond prices flat as profit-taking offsets month-end buy

* Treasuries' winning streak fades on profit-taking

* "Fiscal cliff" worries underpin support for bond prices

* Consumer, factory data support view of fragile U.S. growth

NEW YORK, Nov 30 (Reuters) - Most U.S. government debt prices were little changed in choppy trading on Friday, as mild profit-taking offset purchases for month-end portfolio adjustments and safe-haven bids on anxiety about the lack of progress in budget talks in Washington. The market's attempt to extend its winning streak for a fifth straight day faded late morning, partly on a large sale of ultra long-dated Treasury futures, analysts said. Traders also turned cautious as U.S. President Barack Obama spoke about the budget negotiation, followed by top lawmakers from both major political parties. "We are treading water here to see what the President and the Congress will do next," said Jim Kochan, chief fixed income strategist with Wells Fargo Fund Management in Menomonee Falls, Wisconsin. The market has been volatile as investor sentiment changes on whether U.S. President Barack Obama and Congress will reach a timely budget compromise to prevent a series of tax increases and spending cuts from phasing-in next year. This $600 billion fiscal contraction, dubbed the "fiscal cliff", could cause a U.S. recession, according to economists. Traders have bought and sold Treasuries this week in reaction to recent public remarks from leading Democratic and Republicans lawmakers. Democrat President Obama on Friday said a "handful of Republicans" in the House of Representatives were holding up legislation to extend tax cuts for middle-class Americans in order to try to preserve them for the wealthy. He spoke during a visit to a factory in Pennsylvania in an effort to press his case for raising taxes on the wealthy to narrow the deficit. This budget standoff exacerbated a fragile economic backdrop where growth is still weak and unemployment remains historically high, analysts said. "If we don't get a quick resolution, each day, it will add a bid to the Treasuries market," said Wilmer Stith, co-portfolio manager of the Wilmington Broad Market Bond Fund in Baltimore. Government data on Friday showed Americans cut back their spending for the first time in five months in October, while a private report showed business activity in the upper Midwest region barely grew in November. A wobbly economy together with the risk from the "fiscal cliff" will likely cause the Federal Reserve to cling to its ultra-loose monetary policy, analysts said. The Fed bought $1.85 billion in Treasuries that mature in Feb. 2036 to Nov. 2042, which was its latest purchase for 'Operation Twist.' This program due to expire at year-end was intended to lower interest rates in an effort to support the economy. Benchmark 10-year Treasury notes traded 1/32 higher in price to yield 1.616 percent, down 0.4 basis point from late on Thursday. The 10-year note was up as much as 7/32 earlier with a yield of 1.596 percent on month-end portfolio purchases. Some bond fund managers match month-end duration changes on their benchmark Treasuries indexes. This typically involves the purchases of longer-dated bonds.