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The rib-eye is a beef steak from beef rib. When cut into steaks, the rib eye is one of the most popular, juiciest and expensive steaks on the market. The extra fat makes rib-eye steaks and roasts especially tender and flavorsome. The rib-eye can be cut boneless or bone-in. Sometimes people leave the bone in for extra moisture and the fat alongside the bone will enhance the meats flavor.