Sunday, February 07, 2016

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

3.38

 

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

 

4-Jan

44.36

195.88

205.88

 

5-Jan

63.96

195.87

205.87

Imp 90s

90

200.00

35.00%

31.50

70.00

6-Jan

66.04

198.66

208.66

Imp 89s

89

 

0.00

0.00

7-Jan

72.06

199.59

209.59

LFTB

92

182.03

15.00%

13.80

27.31

8-Jan

75.34

199.41

209.41

Dom 90s

90

202.03

19.25%

17.33

38.89

11-Jan

77.53

197.89

207.89

Dom 50s

50

66.7095

0.3075

15.38

20.51

12-Jan

78.11

199.61

209.61

100.00%

78.00

 

13-Jan

79.21

201.41

211.41

 

78.00

156.71

14-Jan

78.79

203.23

213.23

 

15-Jan

78.22

203.25

213.25

Item

% Lean

Price

Formula

 

18-Jan

77.32

202.18

212.18

 

19-Jan

70.83

202.71

212.71

Imp 90s

90

 

0.00

0.00

20-Jan

73.49

202.83

212.83

Imp 89s

89

196.62

35.00%

31.15

68.82

21-Jan

66.61

205.37

215.37

LFTB

92

182.03

15.00%

13.80

27.31

22-Jan

59.77

205.67

215.67

Dom 90s

90

202.03

20.13%

18.11

40.66

25-Jan

63.03

204.16

214.16

Dom 50s

50

66.7095

0.29875

14.94

19.93

26-Jan

54.33

205.64

215.64

100.00%

78.00

 

27-Jan

55.43

204.12

214.12

 

78.00

156.71

28-Jan

48.76

208.02

218.02

 

29-Jan

51.00

205.19

215.19

 

 

 

 

 

 

 

 

 

 

 

Average

66.71

202.03

212.03

 

 

 

 

 

 

 

 

 

Adjustment per 1% point of lean - USc/lb

3.97

 

December Prices for January Claims

 

 

 

 Weighted Average Prices USDA closing quotes, National

 

 

Fresh 50s

Fresh 90s

Fresh 95s

 

1-Dec

41.05

206.79

 

Item

% Lean

Price

Formula

 

2-Dec

43.14

205.05

215.05

 

3-Dec

37.86

208.82

218.82

Imp 90s

90

200.00

35.00%

31.50

70.00

4-Dec

38.91

207.10

217.10

Imp 89s

89

 

0.00

0.00

7-Dec

38.63

207.97

217.97

LFTB

92

177.02

15.00%

13.80

26.55

8-Dec

37.43

205.07

215.07

Dom 90s

90

197.02

19.25%

17.33

37.93

9-Dec

39.22

194.07

204.07

Dom 50s

50

38.205455

0.3075

15.38

11.75

10-Dec

40.93

195.68

205.68

100.00%

78.00

 

11-Dec

39.16

189.39

199.39

 

78.00

146.23

14-Dec

37.67

192.84

202.84

 

15-Dec

37.67

194.77

204.77

Item

% Lean

Price

Formula

 

16-Dec

36.66

195.53

205.53

 

17-Dec

36.86

194.28

204.28

Imp 90s

90

 

0.00

0.00

18-Dec

36.86

190.53

200.53

Imp 89s

89

196.03

35.00%

31.15

68.61

21-Dec

33.95

191.11

201.11

LFTB

92

177.02

15.00%

13.80

26.55

22-Dec

35.27

191.11

201.11

Dom 90s

90

197.02

20.13%

18.11

39.65

23-Dec

34.24

193.86

203.86

Dom 50s

50

38.205455

0.29875

14.94

11.41

24-Dec

35.01

196.26

206.26

100.00%

78.00

 

25-Dec

Holiday

 

 

 

78.00

146.23

28-Dec

30.46

195.38

205.38

 

29-Dec

35.81

195.45

205.45

 

30-Dec

43.16

191.63

201.63

 

31-Dec

50.57

191.76

201.76

 

Average

38.21

197.02

206.56

 

 

 

 

 

 

 

 

 

Adjustment per 1% point of lean - USc/lb

4.05

 

November Prices for December Claims

 

 

 

 Weighted Average Prices USDA closing quotes, National

 

 

Fresh 50s

Fresh 90s

Fresh 95s

 

2-Nov

61.46

221.65

231.65

Item

% Lean

Price

Formula

 

3-Nov

57.55

222.71

232.71

 

4-Nov

59.25

218.70

228.70

Imp 90s

90

200.00

35.00%

31.50

70.00

5-Nov

58.05

219.58

229.58

Imp 89s

89

 

0.00

0.00

6-Nov

59.97

216.69

226.69

LFTB

92

193.13

15.00%

13.80

28.97

9-Nov

59.25

218.68

228.68

Dom 90s

90

213.13

19.25%

17.33

41.03

10-Nov

58.76

216.55

226.55

Dom 50s

50

50.956

0.3075

15.38

15.67

11-Nov

58.34

214.87

224.87

100.00%

78.00

 

12-Nov

51.97

215.08

225.08

 

78.00

155.66

13-Nov

51.97

208.20

218.20

 

16-Nov

52.58

215.07

225.07

Item

% Lean

Price

Formula

 

17-Nov

49.40

213.98

223.98

 

18-Nov

44.37

210.41

220.41

Imp 90s

90

 

0.00

0.00

19-Nov

41.18

206.61

216.61

Imp 89s

89

195.95

35.00%

31.15

68.58

20-Nov

40.64

212.20

222.20

LFTB

92

193.13

15.00%

13.80

28.97

23-Nov

40.64

209.11

219.11

Dom 90s

90

213.13

20.13%

18.11

42.89

24-Nov

41.71

207.74

217.74

Dom 50s

50

50.956

0.29875

14.94

15.22

25-Nov

42.44

208.81

218.81

100.00%

78.00

 

26-Nov

Holiday

 

 

 

78.00

155.66

27-Nov

45.20

200.24

210.24

 

30-Nov

44.39

205.62

215.62

 

 

 

 

 

 

 

 

 

 

 

Average

50.96

213.13

223.13