Friday Fast

It used to be that Catholics would abstain from meat every Friday — except when it falls on a major feast — and not just Fridays in Lent. Some think that the bishops or Vatican II did away with this Friday penance. Not only is that not true but we are commanded by Christ to do penance. Despite what some may think neither the Vatican nor the bishops can completely abrogate this obligation.
In the same way the Church gathers together to celebrate the Mass on Sunday, the day Christ rose, we unite in penance on Friday, the day Christ died. Historically this penance has been mandated as abstaining from meat. In 1966 Pope Blessed Paul VI removed the obligation to refrain from meat provided it is replaced with a substantial penance. This alternative penance could take the form of abstaining from alcohol or adding a rosary or act of charity.
Meat was chosen because of its connection to sacrifice. Warm blooded animals were offered to God in the Old Testament and Christ gave up His flesh as part of His sacrifice on the Cross.
The reasoning behind Blessed Pope Paul VI's desire to lift the obligation to fast from meat — but not the obligation to do penance — is that around the world meat wasn't and isn't a common part of many cultural diets and other individuals simply don't like meat so the penance didn't mean much for a large swathe of the Catholic population.
When Blessed Pope Paul VI lifted the obligation in the late 1960s, American bishops began to tell Catholics they could now eat meat on Fridays outside of Lent and left it at that. The silence on this issue is deafening to this day. It's possible that bishops are concerned that penance will harm ecumenical efforts, or maybe they don't believe American Catholics are capable of fasting, but whatever the reason Catholics simply gave up fasting and penance on Fridays outside of Lent.
However, despite the bishops' reluctance, the requirement to do penance on Friday remains on the books and to simply blow it off is grave matter, similar to skipping Mass without cause. Since the bishops will not teach the flock it is up to the flock to teach themselves. Continue to give up meat on Friday, or if that's not your preference, give up something else or add a Mass or rosary.
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