Mike Baird's NSW greyhound racing ban backdown confirmed after cabinet meeting

The dramatic backflip comes despite Premier Mike Baird's repeated claims that the decision was final and a matter of principle and it was "locked in" that the industry would be shutdown on July 1, 2017.

Mr Baird announced the ban earlier this year following a special commission of inquiry report that found 68,000 greyhounds had been euthanised in the past 12 years because they could not, or were too slow, to race.

But he has faced immense pressure from the Opposition, media outlets and the industry since the announcement, with expectations of a large swing against the government at the November 12 Orange byelection.

Cabinet met on Tuesday morning to discuss dumping the plan, with their decision emerging shortly before 10.30am.

It was expected that the cabinet would consider a range of options encompassing significant elements of a plan put forward by the industry.

Among them was expected to be proposals to implement a controlled breeding program, total life-cycle management for greyhounds, including those unable to race and life bans for animal cruelty, including live baiting.

Fairfax Media understands that cabinet was also due to consider introducing a statutory review of undertakings given by the industry, which could take place in three years. If that timetable is agreed upon it would push the review beyond the March 2019 election.

Legislation to enact the ban passed NSW Parliament in August, and just over a week ago Mr Baird declared the industry's shutdown date as "locked in. That is firm."

Before cabinet met, Opposition Leader Luke Foley highlighted Mr Baird's repeated statements in Parliament and elsewhere that he would not back down on the ban.

"Mr Baird has said this is a matter of great principle ad infinitum for three months now," he said. "It seems the principle most important to Mr Baird is saving his own skin".

Mr Baird and Family and Community Services minister Brad Hazzard reportedly dined with Sydney broadcaster Alan Jones, who has been a vocal opponent to the ban, on Monday night.

Fairfax Media