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Recession Special: Steak for $5!

When you hear that business inventories are overstocked because of the recession, you probably think of things like sweaters and cars, right?

Walmart Steak House Brand Steaks
Source: walmart.com
Walmart Steak House Brand Steaks

Well guess what else they’re overstocked on — steak!

Omaha Steaks sent out an email this week with the subject “Overstock Alert!” offering steaks as low as $5 each.

That email didn’t click when you opened it — it sizzled!

“This is huge news! Finally, steak doesn’t just have to be a special occasion food,” said Anna Watson, author of“The Recession Cookbook”blog.

“These prices provide new opportunities for us to eat better than we ever have,” said Randy Irion, a spokesman for the National Cattlemen’s Beef Association.

This is just the latest discovery in our Eat Like a King at Pauper’s Prices series here at the Pony blog: First, we learned of lobster at lunchmeat prices, then wine cheaper than water and a close-out sale on chocolate. Now — someone hand me a serrated knife — it’s steak!

Recession Specials:

It’s a hardship for the cattle industry, which has had to slash prices as consumers cut back on eating out and buy fewer indulgences at the supermarket.

As a result of this shift, the cattle industry has ramped up its marketing efforts to supermarkets and other retail outlets like Target and Wal-Mart, Irion said.

The silver lining for consumers is that steak prices at the grocery store are down as much as 30 percent.

At the Wegman’s in Lower Nazareth, Penn., you can get a NY strip steak for $6.99 a pound. It’s usually about $9.99 a pound.

A beef loin T-Bone steak is on sale for $6.99 at Westlund’s Apple Market in Lansing, Mich., this week. It’s also regular $9.99.

And, they celebrated their independence by eating like kings on the Fourth of July in Greensboro, SC, where a package of ribeye steaks sold for $4.88 a pound at the Food Lion.

Over at Omaha Steaks, they have top sirloin for less than $5.99 a steak. And, brace yourself for smoky, sizzling deliciousness — you can get bacon-wrapped filet of top sirloin steaks for $5 each if you buy a dozen.

What’s more fitting for a king than a steak wrapped in bacon?

And for $5! H-h-hey — why are you still eating five-dollar foot-long subs when you could get a steak, wrapped in bacon — BACON! — for $5!

These prices mean it’s time for consumers to change their culinary thinking in this recession.

“It means we don’t have to eat beanie weenies out of a can or ramen noodles to survive. We can buy a $5.99 steak, throw it on a grill with some asparagus and new potatoes and have a beautiful dinner for under $10!” Watson said.

If you’re looking for ideas on what to do with your $5 steak, head on over to the Recession Cookbook. Try the grilled hanger steak with chimichurri, a garlicky-herb vinaigrette that Watson says is “truly God’s gift to meat.”

But, like with lobster and other volatile food prices, these recession prices won’t last.

“Enjoy this and capitalize on this while you can,” Irion advises. And don’t try to time the bottom — “It’s not like the housing market where you wait for prices to go lower!” he quipped.

Look, I know there’s a lot of pain and suffering out there, but I must say — This recession is delicious!

More on CNBC.com:

Questions? Comments? Write to ponyblog@cnbc.com.

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