World champion mare Black Caviar could keep the dream alive and race on for another season.

Trainer Peter Moody has delivered a strong hint the unbeaten queen of Australian racing may not retire at the end of her current campaign.

Drawing a comparison with the champion mares Sunline and Makybe Diva who started 48 and 36 times respectively, Moody said Black Caviar with 23 starts had been lightly raced.

"She's been well looked after, well-managed, patiently guided by her owners," Moody said after Black Caviar galloped on Tuesday.

"I think she's going as good as ever.

"Maybe there is another season in her."

Black Caviar is at almost unbackable odds to keep her unbeaten streak intact at Moonee Valley on Friday night in what is billed as her farewell run in Victoria.

But Moody has put a question mark over the celebration.

He said he and the mare's owners still regard Friday night's William Reid Stakes as the mare's final run in her home state.

"That's probably the way we're approaching it. But once again, you never say never."

All went well in Black Caviar's final gallop in preparation for the race on Tuesday, with one exception that had Moody in a less-than-complimentary mood toward jockey Luke Nolen.

All was in readiness for the mare to take up her regular 4am timeslot on the course proper at Caulfield, only for her appearance to be delayed.

"Nolen slept in this morning," Moody said.

"He obviously felt he didn't need the practice. He must think he's riding well enough."

The mare duly performed her work half an hour late, but in magnificent style and pulled up perfectly.

"She worked lovely, a soft half-mile and quickened up the running," her trainer said.

"I was very pleased with her wind and her action."