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Borage attracts ladybugs and other beneficial insects including soldier beetles which eat hornwarms and their larva.
Both adults and larvae are predacious and feed on other insects. The adults eat caterpillars, aphids, and other soft-bodied insects and can be important predators. As they lie in wait for prey on flowers such as goldenrod they may feed on nectar and pollen but they do no damage to the plants. Unfortunately, they look a lot like squash bugs which are not beneficial insects.