Produced from bulls, heifers or steers, beef is a variety of red meat which may be cut into roasts, steaks or short ribs. Numerous cuts of steak exist, from premium steaks rib eye, sirloin or tenderloin to budget varieties hanger steak, skirt steak and more. In Canada, the retail price of prime rib roast averaged approximately 30 Canadian dollars in 2015, an increase of approximately seven Canadian dollars since 2013.
Given the recent fall of the Canadian dollar, consumers have been forced to pay more for many food items and other products. The average household expenditure on meat was approximately 1,180 Canadian dollars in 2014, increasing 140 Canadian dollars since 2013. A 2015 survey found that almost 38 percent of respondents said they had reduced or stopped eating beef in the last 12 months, most blaming financial reasons for their change in consumption.