Why Steak Might Be Getting Cheaper Than Ever

If you know your way around a Weber grill, then throwing on a few steaks is probably second nature. However, if you've ever had your heart sink after shelling out a pretty penny for a nice cut of steak, only to have it not turn out as you'd hoped, you may have learned the hard way about one of the mistakes people can make when grilling steak. Naturally, experimenting with an expensive ingredient like steak can be intimidating, but some recent news may be comforting when it comes to taking that leap.

It turns out that it might be a good time to pick up a choice chop or two, like a ribeye or New York Strip. According to Mint, the price of beef is falling and supermarkets are serving up discounts on those steaks, as well as other pricier meats. It turns out, the reason behind the price drop has something to do with a shift in consumers' shopping habits.

Demand is falling for some cuts of beef

If you've shopped for steak this year, then you may still be reeling from sticker shock. In March, CBS News reported that pork and beef prices were up a whopping 14% to 20% when compared to the previous year. A range of explanations have been given for the high meat prices, including inflation, disruptions caused by the pandemic, high demand, and even "corporate greed."

Now, according to Mint, consumer demand is decreasing for some pricey cuts of beef, resulting in more options for shoppers who are still interested in picking up steaks during their next grocery store outing. The price drop is due to better staffing at meat plants and grocery stores offering more discounts (via The Wall Street Journal).

The fall in beef prices comes after shoppers have endured more than a year of price increases (per Mint). So, if getting a deal on a prime piece of beef sounds like a good enough reason to host a steak night, keep in mind there's no one way to properly cook a steak. (But, learning about 10 different ways to cook a perfect steak couldn't hurt either!)