Significant genetic change has occurred in many domestic livestock species and is evident in most Australian beef breeds across a range of economically important traits and selection indexes. Large variation in rates of gain is apparent across breeds, and even larger differences between herds within breeds. Reasons for these differences are examined and results show the selection differential of sires was the key factor explaining the across herd differences in genetic progress for all breeds. Validating genetic trends is important to ensure change is reported accurately. Evidence is presented that show the estimated genetic trends are real and key assumptions used in genetic evaluations are examined, in particular the accuracy of the assumed genetic parameters. The paper identifies opportunities which exist to increase rates of gain across the beef industry, including improvements to the genetic evaluation system, increased levels of performance recording, clearer breeding objectives, and adoption of new technologies.