This issue comes up every few days. While I certainly have no crystal ball to predict the future of ammo prices, I am thinking that we're pretty much near bottom of what they will drop too. Maybe drop tiny bit more in certain areas but the other side of the coin is they could shoot up any time after a political statement, new shipping laws, new ammo taxes, higher hazmat fees or when ammo company's are awarded HUGE contracts by the Government for ship loads of ammo - reducing commercially available ammo for the market place.
I've been stocking up a little at a time when ammo goes on sale and it is in the configuration and brand that I want. Well maybe some feel I am foolish, but at about this time I have enough not not concern myself with future shortages, price gouging and scarcities. Enough to shoot as often as I want and pretty much as much as I normally do without worrying about running out. I've done pretty much the same with components a few years back. Some friends and fellow reloader's thought I was a dummy when I paid $40-$50 a brick of Primers and $35 a pound of powder. I like to sleep well at night!
In today's world ammo is a "commodity" and in the future will be something to be sold, bartered with and could be used for purchasing power. Some invest in Gold and some have invested in Lead. When I buy a stock it's almost never at the dead low and I usually never sell it at the dead high, however if I make a descent profit over time, I consider it doing well.