 On April 2 , 2012 AFA Foods , a ground @-@ beef processor manufacturer of finely textured beef owned by Yucaipa Companies filed for Chapter 11 bankruptcy citing " ongoing media attention " that has " dramatically reduced the demand for all ground beef products " . On April 3 , 2012 , U.S. cattle futures on the Chicago Mercantile Exchange were at a 3 @.@ 5 @-@ month low , which was partially attributed to the " pink slime " controversy . Livestock traders stated that : " It has put a dent in demand . It is bullish for live cattle over the long @-@ term , but short @-@ term it is certainly negative " . 
