Friday, October 31, 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

4.62

 

 September Prices for October Claims

 

 

 

 Weighted Average Prices USDA closing quotes, National

 

 

Fresh 50s

Fresh 90s

Fresh 95s

 

1-Sep

Holiday

 

 

Item

% Lean

Price

Formula

 

2-Sep

129.17

299.76

309.76

 

3-Sep

132.94

299.82

309.82

Imp 90s

90

200.00

35.00%

31.50

70.00

4-Sep

130.01

300.93

310.93

Imp 89s

89

 

0.00

0.00

5-Sep

124.19

300.25

310.25

LFTB

92

279.75

15.00%

13.80

41.96

8-Sep

125.62

300.88

310.88

Dom 90s

90

299.75

19.25%

17.33

57.70

9-Sep

119.55

300.98

310.98

Dom 50s

50

114.96

30.75%

15.38

35.35

10-Sep

116.74

299.84

309.84

100.00%

78.00

 

11-Sep

115.32

300.44

310.44

 

78.00

205.02

12-Sep

112.32

301.20

311.20

 

15-Sep

115.99

301.03

311.03

Item

% Lean

Price

Formula

 

16-Sep

114.47

300.94

310.94

 

17-Sep

110.67

298.65

308.65

Imp 90s

90

 

0.00

0.00

18-Sep

109.70

300.65

310.65

Imp 89s

89

195.38

35.00%

31.15

68.38

19-Sep

110.03

301.07

311.07

LFTB

92

279.75

15.00%

13.80

41.96

22-Sep

110.89

301.22

311.22

Dom 90s

90

299.75

20.13%

18.11

60.32

23-Sep

105.70

300.67

310.67

Dom 50s

50

114.96

29.88%

14.94

34.35

24-Sep

106.88

295.36

305.36

100.00%

78.00

 

25-Sep

107.04

299.32

309.32

 

78.00

205.02

26-Sep

108.73

296.11

306.11

 

29-Sep

105.59

298.59

308.59

 

30-Sep

102.67

297.03

307.03

 

 

 

 

 

 

Average

114.96

299.75

309.75

 

 

 

 

 

 

 

 

 

Adjustment per 1% point of lean - USc/lb

3.84

 

 August Prices for September Claims

 

 

 

 Weighted Average Prices USDA closing quotes, National

 

 

Fresh 50s

Fresh 90s

Fresh 95s

 

1-Aug

153.35

294.01

304.01

Item

% Lean

Price

Formula

 

4-Aug

151.21

292.89

302.89

 

5-Aug

153.02

294.42

304.42

Imp 90s

90

200.00

35.00%

31.50

70.00

6-Aug

149.54

293.85

303.85

Imp 89s

89

 

0.00

0.00

7-Aug

151.38

294.45

304.45

LFTB

92

276.74

15.00%

13.80

41.51

8-Aug

144.76

294.55

304.55

Dom 90s

90

296.74

19.25%

17.33

57.12

11-Aug

151.09

295.03

305.03

Dom 50s

50

143.14

30.75%

15.38

44.02

12-Aug

149.85

297.13

307.13

100.00%

78.00

 

13-Aug

145.63

296.23

306.23

 

78.00

212.65

14-Aug

142.27

296.04

306.04

 

15-Aug

143.74

298.76

308.76

Item

% Lean

Price

Formula

 

18-Aug

145.32

297.16

307.16

 

19-Aug

139.22

297.25

307.25

Imp 90s

90

 

0.00

0.00

20-Aug

139.13

298.19

308.19

Imp 89s

89

196.16

35.00%

31.15

68.66

21-Aug

141.22

298.18

308.18

LFTB

92

276.74

15.00%

13.80

41.51

22-Aug

140.21

298.25

308.25

Dom 90s

90

296.74

20.13%

18.11

59.72

25-Aug

139.09

298.66

308.66

Dom 50s

50

143.14

29.88%

14.94

42.76

26-Aug

136.92

299.04

309.04

100.00%

78.00

 

27-Aug

131.12

298.08

308.08

 

78.00

212.65

28-Aug

132.20

298.90

308.90

 

29-Aug

125.75

300.55

310.55

 

 

 

 

 

 

 

 

 

 

 

Average

143.14

296.74

306.74

 

 

 

 

 

 

 

 

 

Adjustment per 1% point of lean - USc/lb

3.82

 

 July Prices for August Claims

 

 

 

 Weighted Average Prices USDA closing quotes, National

 

 

Fresh 50s

Fresh 90s

Fresh 95s

 

1-Jul

122.37

275.33

285.33

Item

% Lean

Price

Formula

 

2-Jul

115.32

275.39

285.39

 

3-Jul

121.66

276.10

286.10

Imp 90s

90

200.00

35.00%

31.50

70.00

4-Jul

Holiday

 

 

Imp 89s

89

 

0.00

0.00

7-Jul

116.85

276.31

286.31

LFTB

92

268.75

15.00%

13.80

40.31

8-Jul

120.71

284.95

294.95

Dom 90s

90

288.75

19.25%

17.33

55.58

9-Jul

124.17

291.41

301.41

Dom 50s

50

135.88

30.75%

15.38

41.78

10-Jul

130.69

291.80

301.80

100.00%

78.00

 

11-Jul

129.12

291.93

301.93

 

78.00

207.68

14-Jul

129.12

290.51

300.51

 

15-Jul

135.38

295.80

305.80

Item

% Lean

Price

Formula

 

16-Jul

135.38

291.41

301.41

 

17-Jul

139.41

294.16

304.16

Imp 90s

90

 

0.00

0.00

18-Jul

135.52

291.52

301.52

Imp 89s

89

196.18

35.00%

31.15

68.66

21-Jul

139.74

292.40

302.40

LFTB

92

268.75

15.00%

13.80

40.31

22-Jul

143.85

291.57

301.57

Dom 90s

90

288.75

20.13%

18.11

58.11

23-Jul

149.46

291.11

301.11

Dom 50s

50

135.88

29.88%

14.94

40.59

24-Jul

149.56

292.00

302.00

100.00%

78.00

 

25-Jul

147.10

290.65

300.65

 

78.00

207.68

28-Jul

150.22

291.44

301.44

 

29-Jul

150.51

292.14

302.14

 

30-Jul

151.22

292.47

302.47

 

31-Jul

152.00

292.16

302.16

 

Average

135.88

288.75

298.75