I usually weigh it raw and then depending on how much room I have in the freezer I pack it into jars. If I don't have much room, I pack it in freezer bags and rolls them flat with a rolling pin (zip mostly closed first and then when all air is out, zip it the final inch or so.)
I tend to weigh it to just a few ounces under a pound. We don't notice it's less and it stretches the package further.
ETA: I usually stick with low fat beef so that I don't lose all the weight to drained fat when cooking. The fat i do drain off, I render for soap.