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Chief Executive Hugh Grant is selling smaller, animal-agriculture units amid surging sales of crop products such as Roundup herbicide and engineered corn and soybean seeds. Monsanto in September sold its Choice Genetics unit, which mapped swine genes.
“There are certainly advantages to not being distracted from the core business,” Laurence Alexander, a New York-based analyst at Jefferies & Co., said in a telephone interview. He rates the shares “buy.”
Posilac boosts the average co’s milk production by about 10 pounds a day, or about 15 percent, Jany said. The company failed in an attempt last year to stop dairy processors such as Dean Foods Co. from labeling milk as free of Posilac. “That hasn't been a factor in making this decision,” Jany said. “We are focusing on our core seeds and traits business.”
Monsanto has said labeling milk as being free of bovine-growth hormone incorrectly suggests the government-approved supplement used on about one-third of
Monsanto shares rose $2.45, Wednesday, or 2.3 percent, to $109.40 in New York Stock Exchange composite trading. The shares have fallen 2.1 percent this year.