The FAO Dairy Price Index averaged 116.5 points in July, down 3.4 points (2.8 percent) from June, declining for the second consecutive month, following 12 months of continuous increases. However, the index remained 14.7 points (14.5 percent) above the corresponding month last year. In July, international quotations for all dairy products represented in the index fell, with skim milk powder registering the biggest drop, followed by butter, whole milk powder and cheese, principally reflecting reduced import demand for spot supplies. Slower market activity in the Northern hemisphere due to the ongoing summer holidays, coupled with expectations for rising export availabilities in the period ahead, especially from Oceania, also weighed on international dairy price quotations.
The Dairy Outlook List is a network to facilitate the exchange of information on developments in the world’s dairy industry between list members.