Livestock agents have quoted old sheep making more than $100 in what is quickly making history in NSW and Victorian saleyards.

And buyers are shelling out plenty of cash on all categories from first-cross lambs through to six-tooth Merino wethers.

Graham Board, Davidson Cameron Board and Simmons, Dubbo said supply was tight and processors had plenty of orders for mutton.

"We are seeing mutton make as much money as I can remember and small wethers out of the fine wool country and with no condition on them at all made $69," he said.

"The competition is healthy and we hope it can be sustained, but I am sure it won’t be at these rates for long."