Rouse Slug Cutter Question

I have purchased a Rouse slug cutter. What is the purpose of the metal rod that runs parallel to the cutting surface (but about an inch or so above it) and has a “U” bend to the right of the handle and cutting blade? Thank you in advance for any help.

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The part that you describe can be set at any length, then the strip material can be fed through the cutter to the stop, and pieces can be cut quickly, rather than having to re-feed the lead through the blade each time.

Paul