The event showcases the latest in agricultural machinery and technology with tools and tractors on display from more than 700 exhibitors.

But for many farmers in Victoria, drought is starting to hit hard and purchasing the latest in farming equipment is not a priority.

"We've been through a lot of years of drought out where we farm," farmer Trav Mitchell said. "This year is not looking too bad at the moment, but we've definitely been affected over other seasons.

"We had a bit of rain at the end of last year and it's hanging with us and we're not looking too bad."

Read more: Elmore Field Days kick off for 2018 | Rolling coverage

Mr Mitchell, a cereal and legume farmer from Woomelang near Hopetoun, said farmers were always proactive during the drier seasons.

"You plan to replace machinery after a certain amount of time and if it suits you, you do it and if it doesn't, you hang on to it a bit longer," Mr Mitchell said.

"It's just one of those things. It's part of farming. You need to work with what you've got."

Stanhope beef cattle farmer Martin Brown said he heads along to the Elmore Field Days every year. But with minimal rainfall at his farm, he said he wasn't too interested in making new purchases.

"I just put up with (drought)," Mr Brown said. "There's not much you can do. I was a sugarcane farmer up in Queensland. It used to rain all the time but it's a bit different here.

"There's not a lot of money around. We haven't got a lot of money to spend."

Farm & Diesel Mechanical Maintenance is one of the exhibitors at this year's Elmore Field Days.

The company's accounts manager Maddy Walker said the business was looking to adjust to the changing climate.

"Around this area, the crops look fantastic at this time of year but it doesn't take long for them to grow further," she said.

"Tractors are one of those things that farmers need so that's why we have our hire option as well.

"It gives them the option to hire instead of making that large purchase this time of year if they're not confident in what their crop is going to do for them."

The Elmore Field Days will continue at the Elmore Events Centre through to Thursday. More information can be found at elmorefielddays.com.au

The Elmore Field Days Ag Art Wear Competition has kicked off its final event with a bang.

There were 57 entrants in the final event on Tuesday, which host Liz Trewick said was fabulous to see.

"This year, the standard of the entries was just outstanding and the number of entries in the final year was just overwhelming," Ms Trewick said.

The event has been running for almost 20 years, but with entry numbers declining, the event will see its final days this October.

"It's sad and it's disappointing," Ms Trewick said. "Sometimes things run their race. This year it has been quite exceptional but I think that's because it's the last one. It's just time."

Designer Olinda Poulton entered five outfits into this year's event.

"It was great," she said. "I was just hoping to get all of my different ideas out there. It's sad that it's closing down."

Miranda Kellett also entered the competition for the first time this year.

"All of the entrants did a sensational job," Ms Kellett said. "There was great construction and use of colour and it was really fantastic to see."

The final parade will be on Thursday at 2pm at the Elmore Events Centre.

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