Last year's Melbourne Cup winner Protectionist has been ruled out of his defence with a bone problem, while Let's Make Adeal has also been withdrawn because of injury.
The Nigel Blackiston-trained Let's Make Adeal was found to have an injured tendon after track work.
The grand daughter of 1991 Caulfield and Melbourne Cups winner Let's Elope had gained an automatic start with her win in The Bart Cummings earlier this month.
Racing Victoria has handed Geelong Cup winner Almoonqith a 1kg penalty for the Melbourne Cup, leaving the David Hayes and Tom Dabernig-trained horse on 53kg, in 28th place on the cup order of entry.
"Almoonqith made a winning move coming to the home turn in the Geelong Cup and was a dominant winner over Dandino with a decisive margin back to Manndawi in third place," Racing Victoria executive general manager - racing, Greg Carpenter said.
"In the Geelong Cup, Almoonqith had 2kg less than Dandino who has 52.5kg in the Melbourne Cup and the 1kg penalty now takes Almoonqith to 53kg, representing a 2.5kg turnaround between Almoonqith and Dandino from yesterday's race."
The order of entry still officially includes Protectionist in second place, despite the news that he will not run. The Aidan O'Brien-trained Order of St George has also been withdrawn.
Almoonqith will need at least another four horses to withdraw to make the race field, given that the winner of the Lexus Stakes on Derby Day will gain automatic entry to the Melbourne Cup and leapfrog him in the order.