CME cattle futures experienced a significant drop as meatpackers incurred substantial losses, estimated at over $250 per head processed. This decline follows record-high cattle prices in the previous year due to a dwindling U.S. herd and increased feeding costs. Despite tight supplies, futures fell as packers may reduce demand. Meanwhile, new U.S. dietary guidelines recommending increased protein intake, including from beef, were welcomed by the National Cattlemen's Beef Association.