Why steak’s making a resurgence on the Coast
THERE’S a reason why you might’ve noticed steak starting to make a resurgence in some restaurants around the Sunshine Coast.
After 56 weeks at record levels, the price of cattle dipped below 600 cents a kilogram in July.
Fast forward three months and the Eastern Young Cattle Indicator shows cattle prices are still down below 550 cents a kilogram, a far cry from the above-700 cents a kilogram prices 12 months ago.
As herds begin to rebuild and drought relief comes to some parts, the strengthening Aussie dollar has meant there is more local produce in the market.
That means more steak, in the shape of a variety of cuts, or thicker steaks bringing more meat for your dollar, appearing on restaurant plates.
David Hadid, owner of My Place Bar and Restaurant at Coolum Beach, said the price of eye fillets had jumped to over $50 a kilogram.
The flow-on effect proved too pricey for many of his loyal customers, so he made the decision to ditch the eye fillet from the menu about six months ago.
But he said the pressure had eased somewhat in the last fortnight, with prices dipping back down below $40 a kilogram, meaning he’d been able to restore a crowd favourite to the menu.
“For a while it was out of reach,” he said.
“We were selling maybe 15 a week... we’re now selling 20-25 a day.”
He had the prime cuts on the menu for $29.90 and customers were once again snapping up the tender steaks.
“A lot of restaurants in Peregian and Coolum took it off the menu (as well),” Mr Hadid said. “We couldn’t shift it (at higher prices) in this local market.”
Having run the restaurant for 11 years, he said the eye fillet has been a proven winner over the years and he was loving being able to offer it once again.
“When we took it off a lot of people were upset,” he said.
He was hopeful the beef prices would dip further still in months to come.
Cotton Tree Meats manager Luke Dunn said it was extremely difficult to predict with any certainty what would happen next in what he said was now a very volatile market.
Mr Dunn said the beef industry had been stable for the past 6-7 years, but about 18 months ago a combination of a weak Aussie dollar, spike in live exports and drought made affordable, quality cuts of meat scarcer than usual.
TASTING SUCCESS: David Hadid’s been shocked at the popularity of his eye fillets steaks after a return to the menu.