Larry, to your " I'm surprised that Prime is .03% of the beef production"
Larry from what I have read less than 2 percent of all beef is graded prime.
" meat is federally inspected and graded---to assure consistency within the grading process. Let's say a rancher sells 100 head of cattle, it is inspected, graded and processed---12 are graded Prime, 35 Choice, 40 Select, 10 Standard and 3 Commercial. The 12 Prime are swooped up as well as most of the Choice, by buyers representing steakhouses and meat packers "
i rememer once I found one prime ribeye in a box of selects. it blew our minds. It had the prime logo on it and everything the boss said lets cut it up and raise the price 5 dollars.