Livestock Improvement Corp sinks into the red

Thu, 21 Jul 2016

By Paul McBeth July 21 (BusinessDesk) - Livestock Improvement Corp, the farmer-owned dairy herd genetics, farm software and automation cooperative, dipped into the red in 2016 as farmers scaled back spending because of the dairy downturn, which weighed on the value of the company's elite breeding herd. LIC posted a loss of $4 million, or 13.6 cents per share, in the 12 months ended May 31, compared to a profit of $13.7 million, or 46.3 cents per share, a year earlier, it said in a statement. That included a $3.7 million net write-down in...

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