Elders Wycheproof agent Jim Coffey said it was the first time in history rain had forced the cancellation of the sale.

"Because of the earthen construction of the yards it was better to delay the sale rather than expose quality breeder lines to muddy conditions," Mr Coffey said.

The sale has been rescheduled to Wednesday, December 9.

The fast moving rain band dumped 35mm of rain at Wycheproof, while further west at Wombelano wild storms have caused havoc on the township overnight with several houses destroyed and rooves lost.

The Bureau of Meteorology has issued a strong wind warning for Victorian waters between Lakes Entrance and north east of Gabo Island and a severe weather warning for flash flooding for people in the Alpine Areas, Western, North Central, Northern Country, Wimmera, Mallee, Central and Northeast forecast districts.

The Bureau is predicting thundery rain delivering above 50 millimetres of rain to persist throughout the day which could lead to flash flooding for the Alpine Areas, Western, North Central, Northern Country, Wimmera, Mallee, Central and Northeast forecast districts today.