I've been using wax and veggie oil melted together for years. Easy and not expensive. Works for me.
+1 for oil and wax. I use beeswax and olive oil. Cures chapped lips hunting in windy dry weather and doesn't hurt the meat (edible) I lube my hunting patches with a 'lotion' consistency ratio and pan lube the conicals with a harder ratio. (Ratios are temperature dependent so your mileage will vary on region and season)