Over the past 18 to 24 months, China has become the fastest-growing market in the world for imported beef, but the U.S. hasn't seen a cut of the estimated 400% growth in Chinese beef imports between 2012 and 2013.

That growth, with an estimated value of $1.33 billion, is likely to be repeated. Through August, China's 2014 imports are 17% ahead of last year's pace at $961 million, according to the U.S. Meat Export Federation.

China is one of the few markets that never reopened to U.S. beef following the December 2003 BSE case. China's major beef suppliers are Australia, Uruguay and New Zealand, with Argentina and Canada also serving the market.

To read more about the Chinese market, click here.

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