Melbourne Cup winner Fiorente begins his new career as a stallion on Monday when the Australian breeding season gets underway.

Fiorente, Dundeel and Zoustar are among the high profile horses starting their stud careers in 2014.

Last year, 637 individual sires across Australia covered 20,060 mares, with more than 13,500 foals expected to be born this spring, a 67 per cent success rate.

Basil Nolan, chairman of Thoroughbred Breeders Australia, said the multi-million dollar breeding industry was important to the wider economy.

"This is a vitally important industry to Australia, especially in rural areas where these stud farms are based," Nolan said.

"The hundreds of millions generated in stallion fees is only one part of the economic input.

"There's also the thousands of people who work in the breeding industry, the agistment fees paid by breeders and, of course, the money spent on buying the horses."

Australia's most expensive sire, Coolmore Stud's Fastnet Rock, covered 212 mares at an advertised fee of $275,000 last year.

His fee for 2014 is private but he is expected to cover about 200 mares at around $200,000, generating approximately $40 million for his owners.

Arrowfield Stud's Snitzel covered the most mares in 2013, serving 226 at a fee of $49,500.

Of the 21 new sires this season, Zoustar will command the highest price, standing at $44,000 at Widden Stud.

Dundeel will stand his first season at Arrowfield for $27,500 while Fiorente will command $17,600 at Eliza Park in Victoria.

Queensland star Spirit Of Boom returns to his birthplace at Eureka Stud on the Darling Downs where he will stand for $11,000 while Hong Kong star Akeed Mofeed ($16,500) will be a new attraction at South Australia's Goldin Farms.

NSW had the most stallions in 2013 (211) as well as the most mares covered (9,644), followed by Victoria (159) and (5,025) and Queensland (150) and (2,752).