Michelle Payne's condition has improved to stable as the Melbourne Cup-winning jockey continues her recovery from injuries suffered in a race fall.

Payne underwent pancreatic surgery in Melbourne a day after the fall at Mildura on May 23 and had been listed as serious but stable until Friday.

Doctors had advised the days after the surgery were crucial but Racing Victoria said in a statement on behalf of Payne's family there had been no significant complications and she was more comfortable this week.

The youngest of 10 children in a racing family, Payne became the first female jockey to win the Melbourne Cup when she steered the Darren Weir-trained Prince Of Penzance to victory in November.

She has resisted previous attempts to convince her to give up riding after sustaining serious injuries on the track.

In March, 2004 she suffered a fractured skull and bruising to her brain and in 2012 she broke four vertebrae and several ribs in another fall.

Her latest injury means she will miss opportunities to ride in Europe, including Royal Ascot, during a planned two-month break from Australian racing.