Wednesday, July 01, 2015

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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

5.01

 

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

 

 

 

 

 

 

 

 

 

Adjustment per 1% point of lean - USc/lb

4.51

 

April Prices for May Claims

 

 

 

 Weighted Average Prices USDA closing quotes, National

 

 

Fresh 50s

Fresh 90s

Fresh 95s

 

1-Apr

104.68

294.15

304.15

Item

% Lean

Price

Formula

 

2-Apr

104.68

295.09

305.09

 

3-Apr

108.33

295.09

305.09

Imp 90s

90

200.00

35.00%

31.50

70.00

6-Apr

104.67

296.48

306.48

Imp 89s

89

 

0.00

0.00

7-Apr

109.10

295.05

305.05

LFTB

92

276.36

15.00%

13.80

41.45

8-Apr

106.68

294.44

304.44

Dom 90s

90

296.36

19.25%

17.33

57.05

9-Apr

109.20

296.36

306.36

Dom 50s

50

116.13

30.75%

15.38

35.71

10-Apr

108.64

294.92

304.92

100.00%

78.00

 

13-Apr

112.02

295.83

305.83

 

78.00

204.22

14-Apr

117.20

292.76

302.76

 

15-Apr

122.97

295.11

305.11

Item

% Lean

Price

Formula

 

16-Apr

130.87

299.17

309.17

 

17-Apr

130.59

297.86

307.86

Imp 90s

90

 

0.00

0.00

20-Apr

130.59

297.13

307.13

Imp 89s

89

195.49

35.00%

31.15

68.42

21-Apr

128.46

300.23

310.23

LFTB

92

276.36

15.00%

13.80

41.45

22-Apr

131.18

295.46

305.46

Dom 90s

90

296.36

20.13%

18.11

59.64

23-Apr

130.12

296.88

306.88

Dom 50s

50

116.13

29.88%

14.94

34.70

24-Apr

110.19

297.98

307.98

100.00%

78.00

 

27-Apr

115.31

297.56

307.56

 

78.00

204.22

28-Apr

116.93

298.54

308.54

 

29-Apr

113.84

296.29

306.29

 

30-Apr

108.71

297.59

307.59

 

 

 

 

 

 

Average

116.13

296.36

306.36

 

 

 

 

 

 

 

 

 

Adjustment per 1% point of lean - USc/lb

5.13

 

March Prices for April Claims

 

 

 

 Weighted Average Prices USDA closing quotes, National

 

 

Fresh 50s

Fresh 90s

Fresh 95s

 

2-Mar

90.40

292.05

302.05

Item

% Lean

Price

Formula

 

3-Mar

89.48

292.05

302.05

 

4-Mar

89.99

292.13

302.13

Imp 90s

90

200.00

35.00%

31.50

70.00

5-Mar

90.50

294.68

304.68

Imp 89s

89

 

0.00

0.00

6-Mar

88.25

293.40

303.40

LFTB

92

274.99

15.00%

13.80

41.25

9-Mar

88.73

293.53

303.53

Dom 90s

90

294.99

19.25%

17.33

56.79

10-Mar

89.04

297.03

307.03

Dom 50s

50

89.75

30.75%

15.38

27.60

11-Mar

87.73

295.17

305.17

100.00%

78.00

 

12-Mar

88.37

295.87

305.87

 

78.00

195.63

13-Mar

88.50

294.29

304.29

 

16-Mar

91.53

294.98

304.98

Item

% Lean

Price

Formula

 

17-Mar

87.84

295.09

305.09

 

18-Mar

86.10

294.86

304.86

Imp 90s

90

 

0.00

0.00

19-Mar

84.63

296.72

306.72

Imp 89s

89

194.87

35.00%

31.15

68.20

20-Mar

86.23

295.23

305.23

LFTB

92

274.99

15.00%

13.80

41.25

23-Mar

85.37

296.66

306.66

Dom 90s

90

294.99

20.13%

18.11

59.37

24-Mar

85.18

296.37

306.37

Dom 50s

50

89.75

29.88%

14.94

26.81

25-Mar

85.93

295.75

305.75

100.00%

78.00

 

26-Mar

87.23

295.75

305.75

 

78.00

195.63

27-Mar

95.44

295.64

305.64

 

30-Mar

102.74

296.68

306.68

 

31-Mar

105.19

295.85

305.85

 

 

 

 

 

 

Average

89.75

294.99

304.99