Spectators sheltered under umbrellas, tarpaulins and plastic bags or clustered in tents to support their favourite cowboys and cowgirls in over five hours of competition.
Wanaka Rodeo Club life member Ray Wheeler said yesterday he could not recall another rodeo in the last 24 years being so wet.
"We've had the odd morning where it's been wet, but it has never rained in the afternoon before."
The Wanaka rodeo had been an annual event for 46 years.
Club president Neil Gillespie said yesterday the rain was disappointing "but the crowd has got stuck in and hung with it".
Despite the conditions, no major injuries had occurred, Mr Gillespie said.
The rain was not enough to make the arena completely boggy, although quite a bit of mud was sent flying by horses' hooves.
About 300 competitors entered the events. They came from around New Zealand, Australia and Canada.
Final results had not been supplied last night.
About 1000 people attended the club's twilight rodeo event in Wanaka on Tuesday.
Mr Gillespie confirmed one of the club's horses died on Tuesday suddenly as a result of injuries it sustained in the competition.
The horse had bucked off a rider and got caught up in bucking lines.
It died instantly in the arena, he said.
"It was one of those very unfortunate things we don't like to have happen.
"We don't like our animals getting hurt," Mr Gillespie said.
