Dairy Outlook is a service of FAO's Trade and Markets Division<http://www.fao.org/economic/est/est-commodities/dairy/en/> The FAO Dairy Price Index averaged 193.5 points in July, down 2.9 percent (5.7 points) from June, representing the second consecutive month of decline. At this level, the index value is some 6 percent above that of January 2019 but almost 3 percent below the corresponding month last year. In July, quotations for butter declined the most, followed by cheese and Whole Milk Powder (WMP). Weakness from lacklustre spot market trading, as the summer holiday period in the Northern hemisphere enters its peak, contributed to the weaker prices. By contrast, Skim Milk Powder (SMP) prices recovered, supported by firmer buying interest from the Middle East and Asia. Tables and graphs<http://www.fao.org/economic/est/est-commodities/dairy/en/>