Smokin' Romans and Torranzino are preparing to carry the hopes for New Zealand-trained horses set as the 24 hopefuls for today's Melbourne Cup are saddled up at Flemington.

It's a decline of two Kiwi runners from last year's race, while six set out for the 3200 metre journey in 2022.

Melbourne Cup correspondent Donna Demaio says there's concerns about rain impacting the race.

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