Logs - wood that is cut (6,5)

I believe the answer is:

minute steak

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'cut' is the definition.
(minute steak is a kind of cut)

'logs wood' is the wordplay.
'logs' becomes 'minutes' (I can't justify this - if you can you should believe this answer much more).
'wood' becomes 'teak' (type of timber).
'minutes'+'teak'='MINUTE STEAK'

'that is' is the link.

Can you help me to learn more?

(Other definitions for minute steak that I've seen before include "fast food?" , "Meat dish" .)

I've seen this clue in The Independent.

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