The most common and most likely answer to this crossword clue is the 3 plus 4 letter word SET FAIR
I've seen this crossword clue in The Times
S
E
T
F
A
I
R
More clues leading to the result SET FAIR
- Table d'hote menu they say's favourably established
- Group in front of bazaar, settled and secure
- Organise outdoor entertainment, having good forecast
- Show on TV female with fine prospects
- Likely to rig market
- Favourable weather forecast, but fear it’s incorrect
- Party with blonde when weather forecast’s favourable
- What I try to do should be OK?
- Likely to remain fine in South, possibly after about one
- TV show about female with fine prospects
Buddy explains!

The straight part
We know that "favourably established" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case favourably established = set fair.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.