SG Ammo has cases of 3250 rounds Federal Automatch .22 LR bulk packed for $179.50 plus shipping (estimated $16.00). That's $6.01 per hundred. Doesn't go bad (well, I don't store it in the barn, Texas summers wouldn't help it) and while I don't know where the price will go, I don't think I'll ever see penny per round .22 LR again in my remaining lifetime (or anyone else's).
http://www.sgammo.com/product/22-lr-...0-fps-ammo-am2