The rural lobby group AgForce says the rain in parts of western Queensland could add more than $2.5 billion to the economy.
AgForce president John Cotter estimates the rain will lead to a 10 to 15 per cent increase in production in the beef industry.
"If you look at the general contribution of agriculture to the economy, it's about $13 billion a year and the livestock industry is a big proportion of that," he said.
"That certainly is potential to make a significant contribution to not only the livestock industry but the agribusiness industry in general."
Heavy falls since Christmas have flooded the Thomson, Barcoo, Paroo and Bulloo rivers.
The weather bureau says the Thomson River at Longreach will rise, but no inundation of properties is expected.
Source:www.meattradenewsdaily.co.uk