Traditionally, the month of July is dedicated to the Precious Blood of Jesus. Hence, before entering into the reason why this is so it would be wise to have a look at what the Bible have to say on the Precious Blood of Jesus.
The blood of Christ is precious, unblemished, and spotless. In the First letter of Peter we find: You know that you were ransomed from the futile ways inherited from your fathers, not with perishable things such as silver or gold, but with the precious blood of Christ, like that of a lamb without blemish or spot (1 Pt 1:18-19). In this perspective, we can say that Christ’s blood is so precious that it is certainly priceless, for Christ’s blood forgives sins. In Matthew 26 verse 28 Jesus tells us: For this is my blood of the covenant, which is poured out for many for the forgiveness of sins (Matt 26:28). Jesus’ divine sonship, lordship and the salvation of fallen Man, is marked by Christ’s blood. This is he who came by water and blood, Jesus Christ, not with the water only but with the water and the blood (1 John 5:6). And, once again, John, in the following verse, highlights so beautifully that Jesus’ blood cleanses all of us from sin. He states: And the blood of Jesus his Son cleanses us from all sin (1 John 1:7).
The Fathers of the Church nurtured a great love for the blood of Christ. In his letter to the Romans, Saint Ignatius of Antioch expresses an ardent desire to drink the blood of Christ, which is a love that is imperishable. He says: I have no taste for corruptible food nor for the pleasures of this life. I desire the bread of God, which is the flesh of Jesus Christ, who was of the seed of David; and for drink I desire his blood, which is love incorruptible (Letter to the Romans 7:3 [A.D. 110]).