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Downes-O'Neill(TM) Outlook Speaker Forecasts 15 'Named Storms,' Three Major Hurricanes for 2007

Posted on: Thursday, 14 June 2007, 12:15 CDT

CHICAGO, June 14 /PRNewswire/ -- At the Downes-O'Neill/eDairy 4th Annual Outlook Conference yesterday, noted climatologist Drew Lerner predicted that the 2007 Atlantic hurricane season would be marked by approximately 15 "named" storms, including nine hurricanes and three major hurricanes.

Lerner, who is President and Founder and Senior Agricultural Meteorologist of World Weather, Inc., an international weather-forecasting firm located in the Kansas City area, also asserted that "global warming may be only slightly influenced by man; solar radiation and water vapor may have a far greater influence." Lerner cited strong correlations between sunspot cycles and earth temperatures and forecast colder winters in the near future, stating that, "we should stop worrying about global warming and start worrying about how we're going to heat our homes. We'll have some nasty winters in coming years."

The Downes-O'Neill/eDairy Outlook Conference is an annual event intended primarily for the dairy industry, and featuring commodity analysts, dairy producers and processors, economists, experts on energy markets, and others who provide forecasts that help the dairy industry manage production costs and commodity price fluctuations.

Downes-O'Neill is the leading futures brokerage firm for dairy processors and producers, and its sister company, eDairy, provides consulting services to help dairy processors, producers and end users managing the risk of volatile prices.

The keynote speaker at this year's conference was Rick Walker, the Vice President, Government Relations and Trade, North America, for Fonterra Co-Operative Group Limited. Walker is responsible for managing Fonterra USA's government and industry relations in the United States, Canada and Mexico. He also monitors developments in agriculture and trade policy, including the 2007 Farm Bill, the Doha Round and NAFTA.

In his address, Walker provided Outlook attendees with a perspective on the global dairy marketplace, stating that "milk is in demand (worldwide), but the global industry just can't make enough of it." He added, "we will inevitably see an increase in retail prices -- and this will be felt most acutely in the developing world."

Walker also said that "dairy remains one of the most protected and highly distorted sectors of world trade."

Fonterra Co-Operative Group is a New Zealand dairy co-operative that includes a dairy marketing company and milk collection and processing company, and is one of the largest such organizations in the world.

Other speakers at the Conference, which will continue through today, include ADM economist Steve Freed on the grain and feed outlook for 2007; eDairy's Bill Brooks and Ken Bailey, with a comprehensive market overview and forecast; Jeremy Schupp, Director of Energy Trading and Procurement Strategies for Risk Management, Inc., with insights on energy; and other speakers addressing trends in agricultural commodity prices, fundamental and technical price analysis, and agricultural technology.

Next year's conference will again be held in Chicago, on June 18 and 19, 2008.

About Downes-O'Neill

Downes-O'Neill, the preferred brokers to the dairy industry, trades more dairy futures and options than any other brokerage group. Downes-O'Neill's brokers are registered with the Commodity Futures Trading Commission (CFTC), and are members of the National Futures Association (NFA.) Downes-O'Neill's sister company, eDairy, provides the dairy industry with accurate, timely and relevant information on dairy futures and options and dairy price-risk management.

Downes-O'Neill(TM) is registered with the CFTC and a is member of the National Futures Association. There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities.

Downes-O'Neill

CONTACT: Kelly Sherman of Downes-O'Neill, +1-312-456-3618,Kelly.Sherman@DownesOneill.com

Web site: http://www.downesoneill.com/

Source: PRNewswire

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