K W, I think you're right about "price inelasticity" and retailers' reluctantance to change prices frequently. I suspect, but do not know, that ammunition manufacturers have absorbed much of the sharp rise in lead prices without passing them all on to the consumer. Likewise, it is doubtful that lower lead prices will be fully reflected at the retail level. However, lead prices have been immediately reflected in the cost of bagged shot and will probably drop as quickly if lead continues to weaken. Of course jobbers of lead shot will want to hold prices fairly high while they work out of existing inventory.
