According to GTIS, Jul ’15 total Chinese dairy import volumes increased to a five month high but remained slightly below the previous year, finishing down 1.1% YOY. Total Chinese dairy import volumes have declined YOY for 11 consecutive months at an average rate of 26.0% over the period. Total dairy import volumes remain significantly below the peak levels experienced in early 2014 but finished at the second highest level experienced during the month of July, trailing only 2014 levels. Jul ’15 whole milk powder (WMP) imports remained weak, declining 40.3% YOY and finishing at a four year low for the month of July. Skim milk powder (SMP) imports also remained lower on a YOY basis, declining 24.5% but finishing at the third highest level experienced during the month of July. Jul ’15 Total Chinese Dairy Import Volumes Remain Below Last Year’s Levels Jul ’15 Total Chinese Dairy Import Volumes up 11.6% MOM but Down 1.1% YOY Jul ’15 Total Chinese Dairy Import Volumes Remained at the Second Highest June Level Jul ’15 Chinese WMP Import Volumes up 85.0% MOM but Down 40.3% YOY Jul ’15 Chinese WMP Import Volumes Finished to a Four Year Low for the Month of July Jul ’15 Chinese SMP Import Volumes Down 1.7% MOM and 24.5% YOY Jul ’15 Chinese SMP Import Volumes Remained at the Third Highest July Level New Zealand Accounted for Less Than 30% of Total Jul ’15 Chinese Dairy Import Volumes as New Zealand Milk Production Remains Near Seasonal Lows