Larry, I made a concoction today of half beeswax and half olive oil, to use for cushion wads for my new fowler (in recent gunbuilding post). Seems like its going to work well, and would stay in a grease hole fine. There's not a lot of humidity here though, so in Indiana maybe you'd want to be a little heavier on the wax.
The recipe and method came from Capt. Jas of this forum. With a rifle I've always used spit or moosemilk for the range, but for hunting this could be good. I think Daryl S is playing with a similar mix.