The event, the third of the season, provided encouraging signs for the 32-year-old Perisher- based AIS athlete.
The huge crowd lining the steep and icy 750-metre course saw Owens qualify in 12th place, finish second in her quarter final, fourth in a semi-final and fourth in the small final.
The encouraging results placed Owens in eighth overall, behind German winner Heidi Zacher, Norway's Hedda Berntsen in second and Germany's Anna Woerrner in third.
Head coach Matt Lyons said that while he expects more improvement from Owens, he was impressed by the turnaround compared with her first two World Cup rounds of the season in Italy last month.
"Jenny has the ability and today we saw her start to get back the confidence she needs," Lyons said.
"She was disappointed with the way she skied in Italy but today was very encouraging."
Owens spent much of the Christmas-New Year break in an extensive training block with the Swiss team, which has given her renewed confidence in her ability and prompted her to make small technical modifications and rethink various race strategies.
Australia's two other female competitors, Sami Kennedy and Katya Crema finished in 21st and 23rd places respectively.
While the women's team enjoyed their best result of the year, the men's team had a frustrating event.
Scott Kneller, winner of the last round in Italy last month, could manage only 31st place, which saw him fail to make the quarter finals.
American John Teller, Canada's Nick Zoricic and Austrian Thomas Zangerl captured the first three places.
Kneller appeared to ski tentatively, which was a complete contrast to his performance in Italy that enabled him to record Australia's first ski cross victory.
Mt Buller's Anton Grimus also shared the frustrations finishing in 43rd position.