Friday, August 28, 2015

Meat Import Council of America
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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

5.60

 

July Prices for August Claims

 

 

 

 Weighted Average Prices USDA closing quotes, National

 

 

Fresh 50s

Fresh 90s

Fresh 95s

 

1-Jul

70.14

294.90

304.90

Item

% Lean

Price

Formula

 

2-Jul

71.41

294.68

304.68

 

3-Jul

Holiday

 

 

Imp 90s

90

200.00

35.00%

31.50

70.00

6-Jul

70.75

294.96

304.96

Imp 89s

89

 

0.00

0.00

7-Jul

69.59

294.45

304.45

LFTB

92

270.94

15.00%

13.80

40.64

8-Jul

65.06

293.77

303.77

Dom 90s

90

290.94

19.25%

17.33

56.01

9-Jul

66.35

294.29

304.29

Dom 50s

50

66.89

30.75%

15.38

20.57

10-Jul

63.43

293.07

303.07

100.00%

78.00

 

13-Jul

65.26

294.17

304.17

 

78.00

187.21

14-Jul

65.10

296.31

306.31

 

15-Jul

64.85

290.26

300.26

Item

% Lean

Price

Formula

 

16-Jul

65.58

291.48

301.48

 

17-Jul

64.66

294.07

304.07

Imp 90s

90

 

0.00

0.00

20-Jul

64.66

293.09

303.09

Imp 89s

89

194.40

35.00%

31.15

68.04

21-Jul

65.55

292.24

302.24

LFTB

92

270.94

15.00%

13.80

40.64

22-Jul

65.23

286.67

296.67

Dom 90s

90

290.94

20.13%

18.11

58.55

23-Jul

65.70

290.65

300.65

Dom 50s

50

66.89

29.88%

14.94

19.98

24-Jul

65.70

288.05

298.05

100.00%

78.00

 

27-Jul

67.42

286.62

296.62

 

78.00

187.21

28-Jul

67.32

285.56

295.56

 

29-Jul

67.58

283.49

293.49

 

30-Jul

70.12

285.67

295.67

 

31-Jul

70.12

282.17

292.17

 

Average

66.89

290.94

300.94

 

 

 

 

 

 

 

 

 

Adjustment per 1% point of lean - USc/lb

5.30

 

June Prices for July Claims

 

 

 

 Weighted Average Prices USDA closing quotes, National

 

 

Fresh 50s

Fresh 90s

Fresh 95s

 

1-Jun

90.13

298.28

308.28

Item

% Lean

Price

Formula

 

2-Jun

92.30

298.27

308.27

 

3-Jun

88.85

295.59

305.59

Imp 90s

90

200.00

35.00%

31.50

70.00

4-Jun

84.88

296.32

306.32

Imp 89s

89

 

0.00

0.00

5-Jun

84.54

296.32

306.32

LFTB

92

273.83

15.00%

13.80

41.07

8-Jun

87.94

297.41

307.41

Dom 90s

90

293.83

19.25%

17.33

56.56

9-Jun

84.19

293.08

303.08

Dom 50s

50

81.64

30.75%

15.38

25.11

10-Jun

78.72

286.01

296.01

100.00%

78.00

 

11-Jun

77.81

290.01

300.01

 

78.00

192.74

12-Jun

73.75

293.42

303.42

 

15-Jun

79.04

293.52

303.52

Item

% Lean

Price

Formula

 

16-Jun

78.57

291.66

301.66

 

17-Jun

80.52

290.76

300.76

Imp 90s

90

 

0.00

0.00

18-Jun

81.24

294.01

304.01

Imp 89s

89

194.70

35.00%

31.15

68.14

19-Jun

83.13

293.24

303.24

LFTB

92

273.83

15.00%

13.80

41.07

22-Jun

85.25

293.20

303.20

Dom 90s

90

293.83

20.13%

18.11

59.13

23-Jun

82.74

291.50

301.50

Dom 50s

50

81.64

29.88%

14.94

24.39

24-Jun

84.49

293.71

303.71

100.00%

78.00

 

25-Jun

77.02

293.92

303.92

 

78.00

192.74

26-Jun

71.53

295.74

305.74

 

29-Jun

78.90

293.99

303.99

 

30-Jun

70.64

294.23

304.23

 

 

 

 

 

 

Average

81.64

293.83

303.83

 

 

 

 

 

 

 

 

 

Adjustment per 1% point of lean - USc/lb

5.01

 

May Prices for June Claims

 

 

 

 Weighted Average Prices USDA closing quotes, National

 

 

Fresh 50s

Fresh 90s

Fresh 95s

 

1-May

90.14

296.35

306.35

Item

% Lean

Price

Formula

 

4-May

101.58

296.71

306.71

 

5-May

93.20

296.82

306.82

Imp 90s

90

200.00

35.00%

31.50

70.00

6-May

94.52

294.30

304.30

Imp 89s

89

 

0.00

0.00

7-May

100.11

296.15

306.15

LFTB

92

276.72

15.00%

13.80

41.51

8-May

95.09

297.65

307.65

Dom 90s

90

296.72

19.25%

17.33

57.12

11-May

97.70

296.63

306.63

Dom 50s

50

96.38

30.75%

15.38

29.64

12-May

97.94

296.44

306.44

100.00%

78.00

 

13-May

98.72

296.11

306.11

 

78.00

198.26

14-May

98.72

297.57

307.57

 

15-May

101.15

295.92

305.92

Item

% Lean

Price

Formula

 

18-May

101.10

297.16

307.16

 

19-May

101.81

296.42

306.42

Imp 90s

90

 

0.00

0.00

20-May

94.61

296.42

306.42

Imp 89s

89

194.99

35.00%

31.15

68.25

21-May

91.31

297.02

307.02

LFTB

92

276.72

15.00%

13.80

41.51

22-May

95.01

297.05

307.05

Dom 90s

90

296.72

20.13%

18.11

59.72

25-May

Holiday

 

 

Dom 50s

50

96.38

29.88%

14.94

28.79

26-May

97.40

297.72

307.72

100.00%

78.00

 

27-May

95.32

297.72

307.72

 

78.00

198.26

28-May

92.08

296.53

306.53

 

29-May

90.00

297.75

307.75

 

 

 

 

 

 

 

 

 

 

 

Average

96.38

296.72

306.72