00:00I'm sure when you saw that inverted pyramid that had to be music to your ears, Nate, the idea that at least you have the government.
00:05The government's backing in us eating more beef, but of course it also comes at a kind of precipitous time.
00:10Where prices are at elevated levels here, kind of square the circle for us as to where you think.
00:15This goes.
00:16Yeah, I mean, demand is an all-time high.
00:19Having a ribeye.
00:20At the top of the pyramid there is certainly going to lift demand at a time where supplies...
00:25At an all-time low.
00:26Yeah, it's not something we haven't known.
00:30We have always known at Omaha Steaks that beef is a high quality...
00:35Complete protein that's good for the human body and it's delicious.
00:40And so it's not a surprise it's there, but certainly, you know, being at the top of the pyramid...
00:45And, you know, the U.S. government coming out and pointing that out is going to drive demand and so it's...
00:50It's going to further exacerbate what we've been seeing on price.
00:53I am curious, though, too, like...
00:55What options, like if you are a consumer who is very cost-conscious for whatever reason or another...
01:00Like, are there really cuts anymore that are affordable?
01:02I mean, like, I remember when I was young and starting out in my career, you know, you'd buy the...
01:05The flank or the hanger steak or something else because it was a lot cheaper than the sirloins or ribeyes.
01:09But now I feel like...
01:10I feel like those sort of butcher cuts, if you will, have been in vogue now.
01:13I mean, you know, you're paying like a ridiculous amount for...
01:15And that used to be just like throwaway meat back in the day.
01:18You know, the...
01:20The beef market is just riddled with options.
01:22Really, it is.
01:23You know, the thing that you think about is a number of...
01:25Of things, right?
01:26There's all kinds of cuts.
01:27I mean, you mentioned the sirloin.
01:28That's a really lean cut.
01:30It's really affordable but still delicious.
01:33You know, the lean points and ground beef...
01:35The beef is something that, you know, the educated consumer really needs to be thinking about.
01:39But the other thing...
01:40The other thing that's interesting is the portion size.
01:43It's something that people often don't...
01:45Think about.
01:46You know, you go to the grocery store, you buy this big cut of meat and you eat two-thirds of it.
01:50You know, really understanding your portioning can be a really effective...
01:55way to manage the impact of rising costs of really food in general.
02:00on your wallet.
02:01So, you know, at Omaha Steaks, we've got all kinds of good options there.
02:05from a five, a six, a seven, an eight, a ten ounce steak and on up.
02:10And so thinking about how much you want to consume and doing a little bit of planning there can be...
02:15That would be a really effective way to manage the rising cost of beef and its impact on your wallet.
02:19That's really...
02:20Interesting.
02:21We were talking about smaller portion sizes in the context of restaurant chains last week.
02:25I think it's interesting to hear how it's sort of translating into your world as well.
02:29So have you...
02:30introduced new smaller portion sizes or are you just saying that you're seeing consumers...
02:35maybe go after some of those smaller sizes?
02:39Yeah, I think...
02:40I think people are starting to realize that, you know, they don't need as much, particularly...
02:45when you're eating a complete protein.
02:47I was kind of laughing earlier today thinking about...
02:50you know, really the only meal that I ever eat where it's only one thing...
02:55on a plate is a steak because it's so, you know, it's so filling and...
03:00like I said, it's a complete high quality protein.
03:02So, you know, thinking about what your intake is...
03:05I think is an important part of the dietary guideline and it's a way that...
03:10America can really think through that.
03:12Another piece, Katie, that I think is ironic is...
03:15that at the top of that pyramid is a ribeye.
03:18Now, a ribeye, it tends...
03:20it tends to be the more rich cut of steak, you know, a higher fat point there...
03:24as opposed to a certain...
03:25furloin, which can be a much more leaner cut, although still bold and delicious.
03:30and certainly if it's coming from Omaha Steaks, just as tender as a grocery store filet mignon...
03:35So, you know, the educated consumer that thinks about portioning explores the option...
03:40optionality in beef is going to be the consumer that wins amidst this...
03:45high-demand constrained supply market.
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