Black Caviar is back in light work for the first time since returning from England where she won the Diamond Jubilee at Royal Ascot.
"We're very pleased with her condition and reckon she looks superb and we'll have her back here at Caulfield in about three weeks' time," he said.
Moody said that after the recent race-fixing inquiry and the indefinite banning this week of leading jockey Danny Nikolic, Black Caviar would provide the sport with a major positive.
"I'm sure the industry would love to see her back. You can see what she's done in the last few years," he said.
"You'd love to have her around at the moment to get a bit of positive publicity for the caper because there's plenty of negative, so let's hope that's the case.
"But if I feel that she doesn't want to be here or there's an issue with her soundness I won't hesitate to retire her.
"It still gives plenty of time for the breeding season."
Moody also agreed Black Caviar had a brilliant record to protect which could be in jeopardy if she returns.
"I know I'm the one who's going to get kicked to death if she gets beat," Moody said.
"She's got this aura of invincibility. That's what's endeared her to the greater public, not even the racing public.
"So we're very mindful and very protective of that."
-AAP