Quoted:
Troy, I know lower temps increase air density and casue more drag over time. I was not aware that cold temps also would result in lower velocity at the muzzle. How much velocity is lost at the muzzle at various temps?
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Like everything ballistic, it depends on a lot of things, like powder type, barrel length, and so forth. But, assuming 70F is your baseline, it would not be unusual to lose 50-60 fps at 32F. Again, it could be 40, and it could be 80, depending on a number of factors. Ball powders (which most standard, as opposed to match, military loads are loaded with) are typically much more sensitive to temperature than cylindrical ("stick") power like Varget, IMR, Reloader, & VV.
That's why I ask folks to report temp, humidity, and elevation when giving chronograph stats, so that folks can adjust or just get an idea of how different conditions affect ballistics. That's also why these and other factors are included in the ballistic computers in, say, M1 Abrams tanks.
-Troy