I don't know about ethics, as such, but you, as a consumer, can make decisions that are better than others. For example: it's better for your health to eat pasture-raised, free-range animals (and stay well away from feedlot raised). The nutrition profile of the meat is much better. Try buying from a butcher instead of a supermarket, and you'll be supporting a small business and probably get better product. Buy good quality and have it less frequently, than buy poor quality and eat it every day.

Ethics aside, you can do compensatory actions in another area. Tree planting, habitat rehabilitation, eschew car ownership and take the bus/bike/walk, invest in renewables, donate to or volunteer at environmental charities, volunteer etc. To be effective, I guess link your meat consumption to your compensation. Eg: every 1kg of steak donate $2, or 10kg plant a tree, or whatever ...

You also aren't obliged to eat meat all the time. Why not just twice a week?

Disclaimer: lives on a farm in AU, eat our own meat, lives in an eco house, off grid, with an ambitious tree planting program. AMA if you want.