Steak and Blow job day, as I've known it to be for many years is on March 10 due to it being the 69th day of the year except for when it is a leap year, then it is March 9. But for simplicity, let's just keep it March 10.
The most common context is in a business setting when one party is trying to take advantage of another (i.e. "These guys are trying to buy us a steak dinner - they expect us to take it in the ass on that (negotiating) point.")
Ted: "How'd it go with Wendy last night?"
Bill: "Excellent, bought her a steak dinner."
Diego: "Hey Yves, how's your deal going?"
Yves: "Shitty, those guys are trying to buy me a steak dinner."
When someone makes one too many "your face jokes" at a company BBQ the proper retaliation is for someone to pick a steak up off the grill and slap its hot juicyness right across your face. It is important to yell "steak slap" when performing a steak slap.