Sunday, April 19, 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

5.13

 

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

 

 

 

 

 

 

 

 

 

Adjustment per 1% point of lean - USc/lb

5.05

 

February Prices for March Claims

 

 

 

 Weighted Average Prices USDA closing quotes, National

 

 

Fresh 50s

Fresh 90s

Fresh 95s

 

2-Feb

109.01

303.38

313.38

Item

% Lean

Price

Formula

 

3-Feb

109.01

293.69

303.69

 

4-Feb

96.58

292.12

302.12

Imp 90s

90

200.00

35.00%

31.50

70.00

5-Feb

93.29

295.62

305.62

Imp 89s

89

 

0.00

0.00

6-Feb

94.08

294.52

304.52

LFTB

92

272.88

15.00%

13.80

40.93

9-Feb

91.10

296.15

306.15

Dom 90s

90

292.88

19.25%

17.33

56.38

10-Feb

91.29

294.08

304.08

Dom 50s

50

90.84

30.75%

15.38

27.93

11-Feb

91.66

292.19

302.19

100.00%

78.00

 

12-Feb

85.68

292.19

302.19

 

78.00

195.24

13-Feb

87.00

291.07

301.07

 

16-Feb

89.66

292.83

302.83

Item

% Lean

Price

Formula

 

17-Feb

83.24

290.37

300.37

 

18-Feb

85.55

290.57

300.57

Imp 90s

90

 

0.00

0.00

19-Feb

82.70

292.54

302.54

Imp 89s

89

194.95

35.00%

31.15

68.23

20-Feb

81.58

289.79

299.79

LFTB

92

272.88

15.00%

13.80

40.93

23-Feb

85.33

291.48

301.48

Dom 90s

90

292.88

20.13%

18.11

58.94

24-Feb

89.83

291.99

301.99

Dom 50s

50

90.84

29.88%

14.94

27.14

25-Feb

90.68

290.01

300.01

100.00%

78.00

 

26-Feb

89.48

292.25

302.25

 

78.00

195.24

27-Feb

89.97

290.82

300.82

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average

90.84

292.88

302.88

 

 

 

 

 

 

 

 

 

Adjustment per 1% point of lean - USc/lb

4.31

 

 January Prices for February Claims

 

 

 

 Weighted Average Prices USDA closing quotes, National

 

 

Fresh 50s

Fresh 90s

Fresh 95s

 

1-Jan

HOLIDAY

 

 

Item

% Lean

Price

Formula

 

2-Jan

106.52

299.19

309.19

 

5-Jan

112.74

299.39

309.39

Imp 90s

90

200.00

35.00%

31.50

70.00

6-Jan

117.97

299.22

309.22

Imp 89s

89

 

0.00

0.00

7-Jan

120.99

299.27

309.27

LFTB

92

282.34

15.00%

13.80

42.35

8-Jan

129.85

302.43

312.43

Dom 90s

90

302.34

19.25%

17.33

58.20

9-Jan

130.50

301.34

311.34

Dom 50s

50

129.91

30.75%

15.38

39.95

12-Jan

130.73

300.51

310.51

100.00%

78.00

 

13-Jan

139.43

302.57

312.57

 

78.00

210.50

14-Jan

143.31

301.03

311.03

 

15-Jan

142.85

303.19

313.19

Item

% Lean

Price

Formula

 

16-Jan

145.09

305.09

315.09

 

19-Jan

145.81

301.83

311.83

Imp 90s

90

 

0.00

0.00

20-Jan

144.56

303.23

313.23

Imp 89s

89

195.69

35.00%

31.15

68.49

21-Jan

143.44

304.44

314.44

LFTB

92

282.34

15.00%

13.80

42.35

22-Jan

142.19

303.56

313.56

Dom 90s

90

302.34

20.13%

18.11

60.85

23-Jan

140.96

303.36

313.36

Dom 50s

50

129.91

29.88%

14.94

38.81

26-Jan

133.84

303.71

313.71

100.00%

78.00

 

27-Jan

123.37

302.07

312.07

 

78.00

210.50

28-Jan

126.75

305.53

315.53

 

29-Jan

105.35

303.69

313.69

 

30-Jan

101.77

304.48

314.48

 

 

 

 

 

 

Average

129.91

302.34

312.34