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From Table 1 you can see that the lowest price per pound was reported for the 700-pound feeder steers, at $1.23 per pound. Alternatively, when feeder steer prices are expressed as dollars per head, the 300-pound feeder steer value was the lowest at $501 per head. The highest value was $861 per head for the 700-pound feeder steer.
On a per lb basis, that's $0.70/lb for each 700 lb steer. Currently (as of December 19, 2012), and fortunately, prices for a 700 lb beef steer are much higher than that right now. The Triple J Livestock report puts steers in the 700-800 lb category at an average of $1.34/lb live-weight. See the related link below. The cost for beef on the hoof is on a per pound basis, in other words in the symbol of $/lb. A lot of cattle, however, are sold on a per hundred-weight basis, or $/cwt. The c is originally the acronym for cent which is the French word for hundred; wt is an acronym for weight..