I went shooting the AR today and I loaded up a USGI 20rnd. I went to chamber the first round in the magazine and the bolt didn't close all the way. So I take a closer look and I find the bullet has been pushed all the way back into the casing, and now just has the tip sticking out.

I checked the rest of the ammo and all seemed fine. Should I just ignore this or should I contact Black Hills?

I would contact them. It's not a big deal but they like to hear feedback good and bad. They will probably send you another box of ammo. In fact I wouldn't be surprised if they respond to this thread. They are stand up guys and make a great product. It VERY rarely fails and they make good on it when that occurs.

ComputerGuy - Give me a call here at BHA, 605-348-5150. I'll need the lot number. It can be found on an inner flap, ten digits stamped with an ink stamper. We'd also like to see that particular round so hold onto it. Thank You, Carl