As the grilling season gets underway, Americans can expect to spend less when picking up burgers and steaks from the grocery store this summer.
That's because beef and steak prices are set to be the lowest they've been in the last three years thanks to a surge in production from livestock farms, with the Bureau of Labor Statistics saying beef is around $3.60 per pound on average across the country in April.
This compares to $3.96 in April 2016, and $4.20 in April 2015.
According to Bloomberg, demand from retailers and restaurants is starting to pick up as grocery stores respond with "aggressive beef promotions." And restaurants are upping their supplies, meaning beef specials are expected during the summer.
That said, the falling prices of beef and steak aren't quite as pronounced in the Midwest as the rest of the country.
BLS figures show that the price of sirloin steaks have fallen 7.7 percent nationally but only 2.4 percent in the Midwest, while round chuck is down 8.6 percent nationally compared to 7.1 percent in the Midwest.
That said, the price of ground beef has fallen more here (down 9.8 percent) than in the rest of the U.S. (9.1 percent).
Lower costs will contribute to Americans eating 8 percent more red meat and poultry this year compared to three years ago, Bloomberg notes.
Should we eat more beef?
Not that we want to be killjoys here or anything, but health experts have long been advising people to moderate the amount of red meat they eat.
Unprocessed red meat has its health benefits: it's filled with protein, vitamins and minerals that are required for a healthy, balanced diet, as BBC Good Food points out,
But eating too much can lead to potential heart problems further down the road, as it contains saturated fats and cholesterol.
Livestrong points out that different cuts of beef, pork and lamb will provide different levels of fat and cholesterol, with the healthier options tending to be "round" or "loin" cuts.
A recent study published by the Journal of the American Medical Association identified red meat consumption as one of the key contributors to heart disease, strokes and diabetes, and recommends people only have one serving of red meat every week.
There's also an environmental impact to consider. According to the U.N., cattle farming is responsible for 18 percent of greenhouse gases. Cattle emit a large amount of methane through burping and flatulence, while ranching is also a major source of deforestation around the world.
GreenEatz ranks foods based on which have the most negative CO2 emissions produced, and red meats comprise three of the top four, with lamb the worst followed by beef, with pork in fourth (cheese is third).
The ranking takes into account the emissions produced from the livestock being raised on a farm, through to when it's cooked in your home.