This is the analysis of your curve:
curve
ID: ae2970ef-1c3c-432c-ae23-016e58905166 (2)
Object name: Cut
Layer name: contour
Render Material:
source = from layer
index = -1
Geometry:
Valid curve.
Open polycurve with 6 curve segments.
Segment 1:
Open NURBS curve
start = (501.99,336.126,-34.1405)
end = (497.621,197.068,-48.9185)
degree = 2
control points: non-rational, count=3
knots: uniform (delta=139.127), domain = -139.049 to 0.0780947
clamped at start and end
Segment 2:
Elliptical arc
radii = 12.8117, 12.4
focal distance = 3.22172
foci = (488.344,197.359,-46.507), (482.11,197.555,-44.8866)
center = (485.227,197.457,-45.6968)
normal = (-0.251343,0.00789689,-0.967866)
start = (497.621,197.068,-48.9185)
end = (485.227,185.057,-45.798)
degree = 2
control points: rational, count=3
knots: uniform (delta=19.0884), domain = 0.0780947 to 19.1665
clamped at start and end
Segment 3:
Open NURBS curve
start = (485.227,185.057,-45.798)
end = (299.998,185.057,-20.4162)
degree = 2
control points: non-rational, count=3
knots: uniform (delta=213.753), domain = 19.1665 to 232.919
clamped at start and end
Segment 4:
Open NURBS curve
start = (299.998,185.057,-20.4162)
end = (114.768,185.057,-45.798)
degree = 2
control points: non-rational, count=3
knots: uniform (delta=213.753), domain = 232.919 to 446.672
clamped at start and end
Segment 5:
Elliptical arc
radii = 12.8117, 12.4
focal distance = 3.22172
foci = (111.652,197.359,-46.507), (117.885,197.555,-44.8866)
center = (114.768,197.457,-45.6968)
normal = (-0.251343,-0.00789689,0.967866)
start = (114.768,185.057,-45.798)
end = (102.375,197.068,-48.9185)
degree = 2
control points: rational, count=3
knots: uniform (delta=19.0884), domain = 446.672 to 465.76
clamped at start and end
Segment 6:
Open NURBS curve
start = (102.375,197.068,-48.9185)
end = (98.0055,336.126,-34.1405)
degree = 2
control points: non-rational, count=3
knots: uniform (delta=139.127), domain = 465.76 to 604.887
clamped at start and end
So it’s a degree 2 polycurve made up of 6 segments. Then I tested the continuity between the segments and the 4 middle curves are not tangent - by almost 1 degree in the middle and by around 0.3 degrees at the ends. So I guess AlphaCAM might have a problem making it into one continuous curve.