In its 133 year history there has only ever been four times Cobar Show has been cancelled.
It was cancelled during the war, the funeral of a past president, when it rained and now because of the insidious drought.
It comes after Bourke Show also cancelled due to the lack of water and dry conditions.
Cobar Show secretary Heather Christie said they made the heartbreaking decision to cancel the show because of the prolonged drought.
"The show means so much to the town, it was heartbreaking we had to cancel it," Ms Christie said.
"We tried all avenues to try and get sponsorship to keep the show going but it's been hard in the drought for local businesses and our region's farmers."
Ms Christie said it cost $20,000 to put on the show and with small donations they had received it was not viable to host it this year.
"A lot of people don't realise how much it costs to put on a show and the committee is liable if we can't cover the costs, we just couldn't do that to our volunteers, many who are farmers," she said.
The Association will be back next year for the 150th year celebration of the Cobar District.