Red Cadeaux could be a surprise runner in the $4 million Queen Elizabeth Stakes instead of the Sydney Cup.

Robin Trevor-Jones, the travelling foreman for Ed Dunlop, said the prospect of a wet track on Saturday could influence which race the three-time Melbourne Cup runner-up contests.

The Queen Elizabeth Stakes is over 2000 metres while the Sydney Cup is a 3200m staying test.

Red Cadeaux has drawn barrier three of 13 in the Queen Elizabeth with Kerrin McEvoy his likely rider if he lines up as Hugh Bowman is committed to Lucia Valentina.

Godolphin's Contributer remains the $3.40 favourite for Sydney's richest race ahead of Japanese visitor To The World at $4 with Red Cadeaux a $51 chance.

Hartnell, also from the Godolphin operation, is the $2.70 Sydney Cup favourite ahead of 2014 Melbourne Cup third, Who Shot Thebarman at $4.40.

Melbourne Cup winner Protectionist is a $6 chance with Red Cadeaux at $8.50.