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There is a shortage of .223 ammo, and there may well be one for two years or so.
There's only one military ammo plant left (Lake City) thanks to our friend Mr Bill. They assemble the ammo, but they do not make cases, powder, primers or bullets from scratch. They buy them.
They've ramped up their production from something like 500 million rounds a year to four BILLION rounds. Needless to say, that pretty much wipes out any supply going to civilian ammo.
That also explains the primer shortage, btw.
Added: we aren't the only ones in the lurch. Police departments simply cannot get ammo for any kind of practice or even annual quals. That includes pistol ammo.
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