Steak prices have been decreasing.

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.

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