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The only thing I found for my last batch that was on sale was fairly thick flank steak which worked out quite well. I cut it diagonally to the grain to get longer pieces.
Albertson's and United normally put rump roast on sale for $2.99 a pound. I think it's about as good as you can get to make jerky with, and about the cheapest cut for me here.
Flank makes great Jerky but at least in PA is sold at a premium $6/lb+...Several cuts from the Round aka back leg are lean, too much fat in jerky can go rancid, and is usually inexpensive. You can look for Top Round, Bottom Round, Knuckle and Eye Round. These are all large whole muscles or combinations of muscles. Then there smaller portions like Rump Roast and London Broil...JJ
My preference is to use my own ingredients rather than store-bought blends.
Find a recipe of interest, try it, and adjust per your own tastes. Most jerky recipes are fairly simple (soy, worcestershire, sugar, garlic, pepper, liquid smoke). It's a great way to learn flavorings, balancing salt to sweet, and part of the learning curve of making jerky.
Most of the premixed seasoning packets contain spices and such you'e quite likely to find in your own pantry.
Some of the other 'added' ingredients in the packets (to prevent caking, preservatives, thickeners, etc) I just assume do without.
As Cougar said you can make your own pretty simply. I'm not a fan of store bought packages but for your first time you might try it, one less thing to worry about as your learning the process of making it.....just an idea
I bought 25 pounds of top round yesterday from United for $1.79 lb. and had it cross-cut at 1/4 inch. Took about 30 minutes to trim the fat, etc. and lost about 7% in trimming. Was really happy with it. My new meat tumbler is supposed to be in today. Looking forward to trying that thing out! I've always marinaded in gallon zip locs so this will be a new experience. I'll have some drying tonight. Pretty kewl not having to wait 24 hours to get it all marinaded. Think I'm just going to do 5# tonight to see if that 20 minutes in the tumbler really does the trick. Even if it took an hour to get it fully marinaded it would be excellent.