The S&P/NZX 50 Index closed at 12,754.58, down 21.55 points or 0.17%.
The NZ dollar is trading around a seven-week low.
Its $9 per kilogram of milk solids is in line with Fonterra's midpoint.
Recent performance has disappointed but long-term strategy remains clear, say analysts.
Generate is increasing its exposure to private assets as its funds grow.
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