The cost of lead is certainly a minor factor in the recent rise in cost of factory ammo. At $35/bag for magnum shot and higher priced primers (powder & wads haven't changed much), it costs me $3.85 to load a box of 1 ounce shells. If I paid $50/bag, my cost would rise to $4.80/box. Over the last decade my handloads have gone up maybe $1/box; factory ammo jumped $3/box in the last year. Last I looked, WalMart was charging $7.74/box for AA's & STS and they don't carry the 1 ounce loads I want.