Bjorn Baker is hopeful Harris Tweed can bring his Australian form to Ellerslie for the New Zealand Stakes on Saturday.

The Cambridge galloper has earned most of his $689,000 in prizemoney in Australia, courtesy of winning the Tulloch Stakes, a second in the AJC Australian Derby and fifth in the Melbourne Cup.

An Australian campaign is likely again this autumn but in between there is confidence he will be competitive at weight-for-age on Saturday.

"He's a bit underrated in New Zealand," said Baker who trains Harris Tweed in partnership with his father Murray.

"But when he was fifth in the Melbourne Cup he was a long way ahead of (Auckland Cup winner) Zavite. He's not without a chance on Saturday."

Baker said an Auckland Cup run was considered for Harris Tweed but it was decided he wouldn't get enough time to rest after the Melbourne Cup if he headed in that direction.

Instead they are considering two major Sydney races, the $A2.25 million BMW (2400m) on April 3 and the $A400,000 Sydney Cup (3200m) on April 24.

Harris Tweed showed his fitness with a first-up second on February 20 over 1600m to Boundless, one of his rivals on Saturday.

He also has a useful record at Ellerslie with two wins and a second from four starts on the track.

"He's doing well but his draw (nine) will make it a bit tougher for him," Baker said.

"We also wouldn't mind a bit more water on the track. It was pretty hard on Cup day."

Red Ruler will probably start favourite following wins at his last three starts.

Kelt Capital Stakes winner Vosne Romanee, Darci Brahma International victor Veloce Bella and last year's winner MacO'Reilly, along with Harris Tweed and Boundless, should give Red Ruler plenty of opposition in what looks one of the better editions of the race in recent years.