The most common and most likely answer to this crossword clue is the 6 letter word T-BONE
I've seen this crossword clue in Financial Times
T
-
B
O
N
E
Buddy explains!

The straight part
We know that "steak" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case steak = t-bone.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does T-BONE mean?
T-BONE noun- T-bone steak
- A vehicular collision of this kind.
- (of a motor vehicle) To collide perpendicularly with the side of something, usually another vehicle.