By 8 p.m., the event was sold out, organizers said. Official attendance numbers were not available, but rodeo staff speculate that it could be the third record-breaking year in a row.
"Saturday is always our best night, and the last two years we saw some really big attendance numbers, but I think we probably beat that a little bit (this year)," said Cindy Green, a rodeo board member.
The 85-year tradition is beloved by Montezuma County residents, but is also a draw for enthusiasts throughout the Southwest. Those that have been attending since the early days, when the rodeo was still held in town, have begun to share the tradition with younger family members.
Ron Knuckles, of Nucla, brought his children out to the event, one he's been attending annually since 1960.
"I've been coming all my life - the first time was 1960, this wasn't all here, it was in town then," he said.
Viola Benally, a Montezuma County resident, brought along her grandson to the event this year, as she attends every year to see some of her favorite competitions.
"I really love the barrel racing and the bull riding of course," said Benally, with her young grandson over her shoulder.
Rather than climb the completely packed grandstand, Debbie and Dan Hoch, of Cortez, lingered down below to get a better view of their daughters Marie and Elizabeth Hoch, who were riding in Saturday night's show.
"Oh we're here every year. I like the barrel racing, I like it all. It's just such a fun event," said Debbie Hoch.
Another popular event with fans was the mutton-busting contests. On Friday night, 5-year-old Hank Guiles of Mancos took the top honors.
"I knew I would win. My dad encouraged me," he said as his father, Monty Guiles, smiled in the background. "He said, 'Hang on tight and wrap your legs.'"
The event puts 30 little kids with helmets and body armor onto wild sheep who tear around the arena and then toss their riders into the mud.
"There's no problem getting kids signed up in this community," she said. "It's a rite of passage."
Even a muddy kick-off Thursday evening didn't stop fans. The highlight for many is being able to see bronc riders, bull riders, calf ropers, barrel racers and more from all over the country - some of them with national and world titles under their belt buckles.
Thousands of spectators packed the outdoor arena to cheer on the mayhem in the mud, which slipped up horses and pitched competitors into deep muck.
"It's a bit sticky out there," said Jason McClain, who competed in team roping and bull riding while wearing an arm cast. "The best part of this rodeo is that it's three miles from my house."
The muddy conditions didn't generate any record times in the barrel racing, said Vickie Carter, of Richfield, Utah. She is ranked 23rd in the world for the event.
"The grounds are tough, but that's Mother Nature," Carter said, before posting the fastest time of 18.52 seconds.
"It's getting more competitive," she added. "As the prize money goes up, the talent has increased and so has the quality of the horses."
Among those with rodeo star power competing were Taos Muncy of Corona, N.M.
Muncy is a two-time World Champion and a Canadian Champion, and according to the announcer, Muncy has made $1.2 million in winnings over the course of his career.
Rodeo comedian Keith Isley jousted and danced with the crowd and told jokes about the weather, Bruce Jenner, President Barack Obama, legal marijuana, and California.
"In Colorado, I've heard that secondhand smoke is not so bad," he said, as the DJ cued up John Denver's "Rocky Mountain High."
The rodeo attracts local and national competitors and is put on by the Honeycutt family. It ran Thursday through Saturday, and features bareback riding, calf roping, team roping, saddle-bronc riding, steer wrestling, barrel racing, and bull riding.
"The bull riding is a big audience favorite, but I'm a huge fan of the mutton busting," said Robyn Coty, one of the organizers.
Rodeo Queen Cami Maxwell thundered around the arena with a flag as she expertly handling a large horse that was sliding out in the deep mud.
"It's a big rodeo, and that fact that it is right here in Montezuma County is huge," she said. "My job as Queen is to promote the rodeo and answer questions people have about events."
Ute Mountain Rodeo Roundup board member Donna Foster said the turnout Friday was also impressive. Hardly any vacant seating could be seen in the stands as fans young and old piled in to get a good view of the mud-splattered action.
"I think it's been going really well. We've got a lot of kids here for the mutton busters. The rodeo is just an exciting event for the community," said Foster.
"We're putting on a really good show, and there is a lot of volunteer effort that goes into it" Coty said. "Cowboys from all over look forward to this rodeo, and its a great thing for our community because it brings everybody together and promotes our region."
Reporter Jim Mimiaga contributed to this story.