Depending on breed and other factors meat in the freezer was about 50% of hoof weight. A 1000lb steer would dress out 500lbs usable beef. A 1000lb steer's hanging weight would be about 650lb. From there it gets interesting as some breeds could have so much internal fat around the organs and another extra 1" around the outside of the carcass. I don't remember the year it started but not only was there the live cattle judging at county and state fairs for the FFA and 4H kids but also a carcass judging contest too. All of a sudden the judges had to get smart when judging the live cattle who would also go into the carcass event. The waste factor became most important to breeders who were selling bulls that could throw calves going to be fed out having the best red meat efficiency. This would parallel the Cornish Cross broilers that were introduced a couple of decades earlier.We had a cow processed and picked it up today. OMG was that expensive. It was $3700 for the cow and processing. We got just about 500 lbs of meat. We weighed it as we were putting it in the freezer since it wasn’t broken down on paper. There must be a lot of waste with fat and bone. I know we pay more because it’s vacuum sealed, but holy smokes! We had the same place last year and they did a great job. We are giving the boys 1/4 cow each for Christmas.
You are most right about there being a lot of waste during processing especially if over fattened. I worked as a teen behind the meat counter of a local market and saw both quarters and sides being broken down on the old maple wood blocks. One thing you got that is so much better than store bought beef is that yours was dry aged. Supermarket beef is aged in a solution of some kind and it is not the beef that we had before they started the new way to save labor costs.