Have you decided on a Labor Day BBQ menu yet?
Steak, rather of the usual hamburgers and hotdogs, might be a cost-effective alternative.
A year-over-year drop of 1.5% and a monthly drop of 1% in July brought the price of raw steak down, according to statistics from the Labor Department.
. A shift in customer preferences seems to be behind the price decline.
Consumers have adjusted their diets to exclude steak, especially the more costly cuts like rib-eye and strip-loin.
As a result, these cuts are now seeing significant price drops in response to lower demand and a return of processing plant staff, per The Wall Street Journal.