Cattle prices in the United States have reached record levels in recent weeks due to tightening supplies.
Seventeen per cent of the national herd has been culled during the course of the country's five-year drought.
US beef producer Wes Klett says that, while many have been forced to leave the industry, those who remain are receiving outstanding prices for their animals.
"We just most recently achieved the highest fat cattle prices in the history of our industry. We've sold cattle for US$1.50 per pound (A$3.20 a kilo), which is unheard of.
"We're seeing the highest calf prices for weaned calves that we've seen in the history of our industry and right now it's a pretty good time to be a cattle producers in the US."
© ABC 2014
14:54 EDT New South Wales farmers are welcoming news that autumn rain could start to fall soon.