The Ribeye or Steak can be found hanging on the wall in the second room of the Ice Castle. It will look like part of the background, so it is easy to miss.
The required level to wield this weapon is Level 20.
If you're using a character with a bad Magic moveset (Thief, Peasant, Stove Face, Civilian, Open Faced Gray Knight, Necromancer, Hatty Hattington, etc.) then this can be very helpful, but the Skeletor Mace may be better if you're going for XP.