The movie Australia also has focussed interest on the region and features a Northern Territory cattle station, whose owner battles a villain and a tough climate to win a lucrative beef contract.

That epic was set early in World War II. Now, in the real world, some Australian cattle producers are still struggling with drought.

However, there are signs that the outlook is improving, especially in northern Australia.

Beef prices have risen and the plunge in the Australian dollar has made Australian exports more competitive.

Herbie Neville said most of the interest has been coming from New Zealand, Queensland and NSW.

Prices have been "as good as we've seen in the pastoral market", he said.

"Six months ago, it was quite buoyant," Mr Neville said.

"I guess today the demand has quietened off a little — not dramatically (though).

"We all know what's happened to the sharemarket but there's a little bit (more) inquiry now.

"People are looking to invest in property rather than the sharemarket.

"It's livened up in the past couple of weeks."

James Packer reportedly is in negotiations to sell his company's cattle production arm, Consolidated Pastoral Company, and Terra Firma, a London-based equity firm is particularly interested in his 90pc stake.

Meat and Livestock Australia also has reported that its cattle markets, particularly in export terms, are strong, while last month's Agricultural Commodities report from the Australian Bureau of Statistics showed that, despite unfavourable weather, cattle numbers in 2007-08 were equal to those of 2006-07, at 25.3 million.

On the other hand, Australian Agricultural Company recently informed investors that, while demand for rural property was strong, it had struggled for most of 2008 because of high oil prices and an "uncompetitive" Australian dollar.

The company is hoping to report better results early next year, when it expects the impact of a lower Australian dollar, and thus more competitive exports, will be realised.