The build-up to the Melbourne Cup is complete with the arrival of Bart Cummings in town for Australia's biggest race.

The 12-time Cup winning trainer has missed the past couple due to ill health and a lack of runners.

This year he's here to watch veteran Precedence run in the Cup for the fourth time on Tuesday.

Things are a little different now with Cummings' grandson James sharing the load as his training partner.

James travelled in the annual parade through the Melbourne CBD on Monday while Bart and Precedence's breeder and part-owner Sir Patrick Hogan visited the horse at Flemington.

"He's checked on the horse while we're here with the fans in Melbourne," James said.

"He's just guarding and making sure everything's alright."

A favourite in the stable, Precedence is an outsider in the Cup with Japanese visitor Admire Rakti the long-time favourite to claim the Caulfield-Melbourne Cup double.

But while punters and Zac Purton's jockey rivals all rate him the one to beat, bookmakers were happy to take Admire Rakti on at Monday's Call of the Card at $6.50 before firming him to $6.

Both the TAB and corporate bookmakers said Fawkner had been among the best backed with Sportingbet crunching his price to $8 after $12 was available on Saturday.

Last year's Caulfield Cup winner, Fawkner is owner Lloyd Williams' lone runner after the scratching of Sea Moon on Monday due to an elevated temperature.

Former New Zealand mare Lucia Valentina, third in the Caulfield Cup, is also popular with punters. Her trainer Kris Lees will take over the training of another leading fancy, German horse Protectionist, after Andreas Wohler sends him round in the Cup.

Saturday's Lexus Stakes winner Signoff is the only other runner under double figures.

"I think the market has got it pretty right," Lees said.

"You've got to say Admire Rakti's win in the Caulfield Cup had a touch of dominance about it. I think Signoff was very good on Saturday.

"I thought Protectionist's lead-up run was perfect."

Lees only question with Lucia Valentina is whether she can run out a strong 3200 metres.

There are 11 northern hemisphere-trained horses in the race, a record since Vintage Crop won for Ireland in 1993.

Dual runner-up Red Cadeaux is among them and will be ridden by Frenchman Gerald Mosse who steered Americain in 2010.

UK based riders and first-time visitors Andrea Atzeni and William Buick took part in the parade and soaked up the atmosphere.

"It's just incredible. It's amazing how the city just stops for this," Buick said.

Buick rides Gatewood while Atzeni is on My Ambivalent.

"It's my first time in Melbourne and I've never seen anything like it," Atzeni said.

At 3pm on Tuesday, the young Italian is in for another new experience at Flemington.