A ram has sold for £368,000 making it the most expensive in the world.
Sportsman Double Diamond, a six-month-old Texel breeding ram, fetched 350,000 guineas (£368,000) at an auction in Scotland, setting a UK record.
The price beat the previous record ram which sold for £231,000 in 2009.
It was sold by breeder Charlie Boden to a consortium of sheep farmers who hope to recoup their investment through breeding.
The male sheep was born at a farm in Macclesfield, Cheshire and went for such a high price because he is the most popular breed in the country and has been born at the highest end of the breeding period, The Sun reports.
Its price is more than the cost of many actual farmhouses in that area.
Texel Sheep Society chief executive John Yates said: "This will, to many people, sound like an extraordinary price for a sheep.
"The Texel breed is the number one terminal sire breed in the UK, siring about 30% of all the lambs born in the UK every year.
"This ram lamb has the potential to sire many, many rams which will, in turn, go on to breed many thousands of lambs themselves."
He went on: "This is the very top of the sheep breeding industry in the UK and as such the buyers are investing in the future of their businesses."
Jeff Aiken, farm manager of the Procter's flock, and who was one of the buyers, told the BBC: "In the pedigree breed you start looking at the smaller characteristics of the sheep - the hair, the colour, the shape of the head."
He added: "We had to pay that amount of money to get the genetics."
Despite the huge sum paid for the animal, many sheep farmers are currently facing great economic uncertainty.
Jeff said: "Don't get me wrong, it is an obscene amount of money to pay for a sheep, and it definitely should not be a reflection on the farming community."
He added: "There is only a small percentage of farmers that can afford to pay this kind of money."