If a 700 lb. steer undergoes a 3% shrink, the resulting weight would be 679 lbs.
To calculate this, you can use the formula:
Resulting weight = Starting weight - (Percentage shrink x Starting weight)
In this case, the percentage shrink is 3% or 0.03, and the starting weight is 700 lbs. So the calculation would be:
Resulting weight = 700 - (0.03 x 700) = 679 lbs