I think the only beef you can find for $5/lb is the ground beef that comes pre-weighed in sealed tubes -not at the meat counter.
I'm in the midwest, and 1lb 73/27 ground beef rolls are $6.44. Even 80/20 rolls don't drop below $7 unless on sale.
If I want to get $5/lb ground beef, I have to stick to 73/27 rolls, and they have to be 5lb or larger.
I have started seeing beef/pork mixes for $4/lb, but alas, those are not to my taste.
all 88/12 ground. Choice sirloin is $8/lb. Boneless chicken breast is $2.5/lb.
Beef on craiglist (1/4, 1/2 or whole) is averaging $6-12/lb for mostly grass fed beef raised <50 miles from me.
Americans buy beef in a roll? I had to look this up.
In oz I have only seen this kind of packaging for pet food or lunch meat (colloquially 80/20 in this case would probably refer to the meat to sawdust ratio).
Otherwise prices in Australia are similar but for beef mince from the supermarket meat counter.