The Hobart Cup remains in the plans for Adelaide mare Pretty Punk but she will first chase another city win in Melbourne.

The Leon Macdonald and Andrew Gluyas-trained Pretty Punk has won her past two starts at Morphettville and Flemington and she is set to contest Saturday's $120,000 Cape Grim Beef Plate (2000m) at Caulfield.

Macdonald has had the Group Three Hobart Cup (2400m) on February 11 and the Launceston Cup (2400m) later next month in mind for Pretty Punk and said they were still on the radar.

He said he had considered taking the mare to Tasmania for this Sunday's $50,000 Summer Cup (2200m) at Hobart but decided to run her again in Melbourne this weekend for more than double the prize money.

"The Hobart Cup is still on the radar if she runs up to expectations on Saturday," Macdonald said.

Pretty Punk beat Articus by a length over 2000m at Flemington last start and the mare has drawn the inside barrier in a field of 11 for Saturday.

Macdonald believes the mare can make her presence felt again.

"We're happy with her. She's done well," he said.

"She can take up a forward position and she's drawn well, so it all helps."

Pretty Punk is at $6.50 in an early market on the fourth line of betting.

The Darren Weir-trained Night's Watch has been installed the $4 favourite ahead of the Mick Price-trained The Chairman at $4.80.