Industry projections forecast the supply of beef to tighten and prices for producers to increase.
Meat and Livestock Australia's, Chief Economist, Tim McRae, says the to fall to 26.1 million head by June 2015, which is the lowest in almost two decades.
As a result, one processor expects the supply of cattle to tighten to 'unprecedented levels'.
Executive Director for livestock at Teys Australia, Geoff Teys says "it is going to be very difficult" for processors "but it's going to be great for producers."
However with in some parts of the state Mr Teys says "for the people that have the cattle, [prices] are going to be unprecedented."
He says "we see the supply of cattle this year [being] very tight but the year after even tighter with the low calving percentages we are seeing around the bush this year."
"Supply is going to be as tight as we have seen it, we believe, and yet our markets are unprecedentedly high.
"So it is all looking fantastic for producers that have got cattle left."
Mr Teys says "we can't predict the weather but we can see a huge turn around in the price for livestock in the next few years."
© ABC 2014
17:58 EDT With sweltering conditions expected for Sunday, but Monday will be remarkably cooler and wetter for many parts of New South Wales.