The average price per head of cattle was sitting at $2293, up from $1693 this time last year.

Chronic beef shortage in the US has seen continued imports of Australian products, with Australia the only major beef producing nation that has adequate supply.

“Around the world a lot of countries are short in terms of production of lean beef,” MLA’s global supply analyst Tim Jackson told the ABC this week.

“American cow slaughter has been falling for quite some time and in the first half of this year was down 10 per cent year on year.”