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You are exactly right. When I put my steaks in the cooler, the temp typically drops enough that I am in the 130-135 range. I prefer medium rare. I like a little myoglobin, but I also like the fat melting and generating that great beefy flavor and mouth feel. This doesn’t happen at rare. The final temp of your cooler will of course depend on the size of your cooler and the amount of cold meat you put in it. The larger the cooler the less temp drop you’ll see, just as the larger quantity of meat will drop your temp more than a smaller quantity of meat.