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Sequence settings with Sony PXW-X70 footage (XAVC)
I’m confused about sequence settings to work with footage from a Sony PXW-X70, shot using the XAVC HD at 50mbps.
If I create a sequence from the clip, I get the following:

Can this be right? Is there no way to select the native codec for the footage?
Working in Premiere Pro CC 2014 with latest update.
g4dp867, 798mg RAM, FCP 3.02