Decent genetics/management will get you a hanging weight of at least 58-60%. Exceptional genetics/management will get you hanging weights up to 65%. You will pay the poundage fee on the hanging weight; my butcher is like 55 cents per pound now :help:
The actual packaged weight of the beef will average 30-32% less than the hanging weight. Again, genetics and management affect this also, as does the skill level of the butcher, also how you have it cut and whether you keep the heart, oxtail, liver, tongue, etc. I've had a hard time beating 60-61% hanging weight much to my chagrin, but the loss from hanging to package has averaged about 26% for me, with a low of 23% and a high of 32%. I've been very pleased with the cutability. A friend fed a black steer too long, and lost 40% from hanging to package.
So, if you have a 1000# steer(to make it easier to figure for example's sake) and it hung at 60%, the hanging weight would be 600#. If you lost 30% cutability, your actual meat weight would be 420#, 42% of the live weight. If you had a humdinger that hung at 65%, and lost only 25% cutability, you would end up with 487.5, nearly 49%. If you reached that 23% mark, you would have 500.5#, just over 50%. Once they get over a thousand pounds, the hanging percentage usually increases some.
Before he started butchering my beeves, the butcher informed me that it was almost unheard of to lose less than 30% from hanging to package. I think our success has something to do with not getting them too fat.