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With the death of pink slime, meat producers are finding alternative ways to cut costs.

A meat specialist at Oklahoma State University has found an undervalued cut of meat that tastes just like a New York strip steak.

Called the Vegas strip steak, this new cut of meat was unveiled at the Protein Innovation Summit in Chicago last month.

Dr. Tony Mata of Mata & Associates approached Jacob Nelson, a meat specialist at Oklahoma State University's Robert M. Kerr Food & Agricultural Products Center about the new cut.

"Initially, the cut was labeled as undervalued," Mata told the Drovers Cattle Network. "Whenever we can take a muscle and turn it into a steak rather than grinding it or selling it as a roast, we are adding value to the carcass."

Mata is a self-proclaimed meat geek who consults for companies in the US and South America.

"This muscle produces a steak that is on par with or better than today's most popular steaks," he said.

Chef Rick Gresh of David Burke's Primehouse at the James Hotel prepared the new cut for a private dinner at the Trump International Hotel in Chicago.

Mata said, "The Vegas Strip Steak was well received by the audience." "They tasted it, loved it and applauded."

The new cut of meat is 14 ounces and can be dived into an additional 3.5 servings at 4 oz each.