Monday, July 28, 2014

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Fat Claims Adjustment


Fat Claims Guidelines 2012


Fat Claims Guidelines 2007


Arbitration Rules


Specifacations and Trading Rules


Laboratory List


Sample Letter to Laboratory


Rules for Arbitration of Disputes


January Fat Claims Adjustment Calculation

Adjustment Factor Applicable to a Claim

 

The price adjustment is determined by the date when the claim is initially filed with the importer.  E.g. If a claim is filed with the importer by his customer in June then the claim will be based on the adjustment factor that will be published on the MICA website as “May Prices for June Claims”.

 

 

Adjustment per 1% point of lean - USc/lb

3.11

 

 June Prices for July Claims

 

 

 

 Weighted Average Prices USDA closing quotes, National

 

 

Fresh 50s

Fresh 90s

Fresh 95s

 

2-Jun

128.64

244.42

254.42

Item

% Lean

Price

Formula

 

3-Jun

127.92

243.76

253.76

 

4-Jun

129.24

243.99

253.99

Imp 90s

90

200.00

35.00%

31.50

70.00

5-Jun

128.78

244.59

254.59

Imp 89s

89

 

0.00

0.00

6-Jun

128.69

242.98

252.98

LFTB

92

231.32

15.00%

13.80

34.70

9-Jun

129.71

243.80

253.80

Dom 90s

90

251.32

19.25%

17.33

48.38

10-Jun

130.27

245.23

255.23

Dom 50s

50

126.98

30.75%

15.38

39.05

11-Jun

129.81

245.22

255.22

100.00%

78.00

 

12-Jun

129.60

246.10

256.10

 

78.00

192.12

13-Jun

129.84

245.86

255.86

 

16-Jun

128.89

247.34

257.34

Item

% Lean

Price

Formula

 

17-Jun

127.61

247.88

257.88

 

18-Jun

128.34

251.93

261.93

Imp 90s

90

 

0.00

0.00

19-Jun

128.93

251.60

261.60

Imp 89s

89

196.89

35.00%

31.15

68.91

20-Jun

118.81

253.34

263.34

LFTB

92

231.32

15.00%

13.80

34.70

23-Jun

122.61

253.76

263.76

Dom 90s

90

251.32

20.13%

18.11

50.58

24-Jun

126.45

257.38

267.38

Dom 50s

50

126.98

29.88%

14.94

37.94

25-Jun

121.74

265.00

275.00

100.00%

78.00

 

26-Jun

127.07

270.60

280.60

 

78.00

192.12

27-Jun

120.90

267.87

277.87

 

30-Jun

122.75

264.98

274.98

 

 

 

 

 

 

 

 

 

 

 

Average

126.98

251.32

261.32

 

 

 

 

 

 

 

 

 

Adjustment per 1% point of lean - USc/lb

2.94

 

 May Prices for June Claims

 

 

 

 Weighted Average Prices USDA closing quotes, National

 

 

Fresh 50s

Fresh 90s

Fresh 95s

 

1-May

132.85

247.37

257.37

Item

% Lean

Price

Formula

 

2-May

123.75

241.47

251.47

 

5-May

128.93

246.29

256.29

Imp 90s

90

200.00

35.00%

31.50

70.00

6-May

126.18

246.67

256.67

Imp 89s

89

 

0.00

0.00

7-May

124.47

243.26

253.26

LFTB

92

224.36

15.00%

13.80

33.65

8-May

125.32

244.99

254.99

Dom 90s

90

244.36

19.25%

17.33

47.04

9-May

125.83

245.37

255.37

Dom 50s

50

126.84

30.75%

15.38

39.00

12-May

127.35

245.63

255.63

100.00%

78.00

 

13-May

127.93

246.05

256.05

 

78.00

189.69

14-May

130.40

242.19

252.19

 

15-May

129.46

243.58

253.58

Item

% Lean

Price

Formula

 

16-May

132.58

243.81

253.81

 

19-May

124.86

244.51

254.51

Imp 90s

90

 

0.00

0.00

20-May

126.28

243.76

253.76

Imp 89s

89

197.06

35.00%

31.15

68.97

21-May

126.09

244.29

254.29

LFTB

92

224.36

15.00%

13.80

33.65

22-May

127.12

243.81

253.81

Dom 90s

90

244.36

20.13%

18.11

49.18

23-May

121.08

243.83

253.83

Dom 50s

50

126.84

29.88%

14.94

37.89

26-May

Holiday

 

 

100.00%

78.00

 

27-May

127.42

244.74

254.74

 

78.00

189.69

28-May

121.80

243.05

253.05

 

29-May

126.13

243.03

253.03

 

30-May

127.71

243.79

253.79

 

 

 

 

 

 

Average

126.84

244.36

254.36

 

 

 

 

 

 

 

 

 

Adjustment per 1% point of lean - USc/lb

3.22

 

 April Prices for May Claims

 

 

 

 Weighted Average Prices USDA closing quotes, National

 

 

Fresh 50s

Fresh 90s

Fresh 95s

 

1-Apr

115.96

257.30

267.30

Item

% Lean

Price

Formula

 

2-Apr

117.16

255.76

265.76

 

3-Apr

118.09

253.58

263.58

Imp 90s

90

200.00

35.00%

31.50

70.00

4-Apr

115.17

254.48

264.48

Imp 89s

89

 

0.00

0.00

7-Apr

114.73

257.28

267.28

LFTB

92

231.43

15.00%

13.80

34.71

8-Apr

116.60

256.97

266.97

Dom 90s

90

251.43

19.25%

17.33

48.40

9-Apr

111.71

253.02

263.02

Dom 50s

50

122.64

30.75%

15.38

37.71

10-Apr

110.89

256.36

266.36

100.00%

78.00

 

11-Apr

112.01

254.39

264.39

 

78.00

190.83

14-Apr

109.81

255.65

265.65

 

15-Apr

113.60

255.65

265.65

Item

% Lean

Price

Formula

 

16-Apr

115.40

248.57

258.57

 

17-Apr

121.89

246.27

256.27

Imp 90s

90

 

0.00

0.00

18-Apr

132.11

250.85

260.85

Imp 89s

89

196.78

35.00%

31.15

68.87

21-Apr

137.06

249.48

259.48

LFTB

92

231.43

15.00%

13.80

34.71

22-Apr

130.42

248.61

258.61

Dom 90s

90

251.43

20.13%

18.11

50.60

23-Apr

133.90

246.42

256.42

Dom 50s

50

122.64

29.88%

14.94

36.64

24-Apr

135.22

245.84

255.84

100.00%

78.00

 

25-Apr

134.34

247.87

257.87

 

78.00

190.83

28-Apr

135.43

247.11

257.11

 

29-Apr

134.64

244.17

254.17

 

30-Apr

132.01

245.85

255.85

 

 

 

 

 

 

Average

122.64

251.43

261.43