Farmers are hoping for a boosted dividend in Fonterra's first half results today.

Fonterra will release its interim results for 2014/15 this morning, which will include any update to its milk price forecast - sitting at four dollars 70 a kilogram of milk solids at the moment.

Federated Farmers dairy industry group chairman Andrew Hoggard says farmers aren't expecting much good news.

"We haven't seen a huge turnaround in the international markets so the current payout is enough to stay as it is."

Hoggard says farmers are wanting a bigger dividend out of Fonterra, but aren't too hopeful that'll happen either.

"They are wanting to start seeing some recognition of the investments that have been made in this space
and that is probably what they would they would hope to see."

Fonterra's due to make it's announcement at 8:30 this morning.