Yes it's okay to eat meat on the use by date and in fact that date is the recommended date you should eat it by before it loses it's freshness.
The use by dates and sell by dates on meat and many other foods are just a general guideline for the freshness of the food or meat.
The use by date or sell by date being over doesn't mean that the meat or other food is bad and unsafe to eat.
As long as the meat has remained frozen the meat can last for a year or more in the freezer well past it's used by date.
When my Grandma died she had meat that was in the freezer for 4 years past the use by date and it was still okay to eat.
I didn't want to throw it out so I took the meat and used it in stews or just ate it as it was still good to eat and safe to eat but just wasn't as fresh.