It simply wasn't star sprinter Chautauqua's day, co-trainer John Hawkes says.

Chautauqua went into Saturday's $1.25 million Newmarket Handicap as $2.45 favourite and carrying 58kg but had to settle for third behind The Quarterback and Black Heart Bart.

Co-trainer John Hawkes said the sprinter raced well.

"It wasn't his day today," Hawkes told AAP.

"You can't win them all - that's horse racing."

Australia's equal-highest ranked sprinter last year was looking to break through for his first Group One over the straight 1200m course at Flemington after three previous second placings.

Chautauqua finished second to Brazen Beau in the race a year ago with 55.5kg but had since won three weight-for-age Group One sprints: the TJ Smith Stakes, Manikato Stakes and the Lightning Stakes.

A victory would have made Chautauqua only the fourth horse in 50 years to carry 58kg or more to victory in the Newmarket.

Hawkes, who trains in partnership with his sons Wayne and Michael, said the nature of handicaps meant horses with light weights were always hard to beat.

The Quarterback had 52kg.

"The winner was too good," Hawkes said.

"He (Chautauqua) wasn't good enough on the day."

Chautauqua heads to Sydney for his main autumn target, the defence of the TJ Smith at Randwick.