Beef production in the U.S is expected to fall by 4% to 11.3 million tons, Korean beef production is expected to fall by 10% to 301,000 tons and production in both Mexico and the EU is expected to fall by an additional 1% each because of tight supplies, high production costs, and increased milk production efficiency. At the same time, India’s beef herd continues to expand resulting in a 1.1% growth forecasted for 2013 to 330 million head and beef production is expected to increase by 14% to 4.2 million tons driven by foreign demand. Brazilian production is expected to increase 2% to a record 9.4 million tons driven by strong domestic and foreign demand, while Argentina’s beef production is up 6% to 2.8 million tons as a result of herd rebuilding in 2010 after drought and herd liquidation. Additionally, Australia’s beef production is expected to increase 2% to 2.2 million tons following a 10 year drought, and China’s production is forecast to be up nearly 1% to 5.6 million tons on heavy domestic demand and government support.