RE: Cutting steaks
The "butterfly" cut is obtained by cutting a double thickness steak that is round then slicing part-way through the middle of the steak and opening the steak out into two connected halves. These two connected halves have the general appearance of a butterfly. This technique is most likely to be used when cutting steaks from the backstrap, because a single thickness backstrap steak is pretty small. Personally, I just cut single thickness steaks from the backstrap and eat more than one steak; others seems to prefer the butterfly steaks. Maybe someone can comment on whether there is some advantage to the butterfly steak that I am unaware of.
The "medallion" cut is simply a round cut of steak, for example from the backstrap. This is how I cut my backstrap.
Note that when I butcher, I leave my backstrap whole and only cut steaks when I am ready to cook the steaks. This means my backstrap is frozen in a single piece, and there is less surface area for freezer burn or other problems to attack the meat.
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