KSR,
I use two different homemade lubes, one in rifles and one for low velocity pistol loads.
Rifle lube is made of 50% beeswax and 50% Alox, which I buy from a company called GAR in New Jersey. They advertise in "Handloader".
My other lube is a blend of 1 lb. paraffin 1 lb. beeswax and 12 oz. Vaseline and usually some candle coloring just to make it pretty. My last batch is blue.
Both are made by melting (outdoors) the ingredients in an old pot or a 3 lb. coffee can, which can be bent to form a spout on its edge. To form the usual sticks of lube, I have some awning tubing from an old RV with an inside diameter of approx .875. This tubing is in 18" lengths and one end is tightly taped with duct tape and then stood up in a bucket of gravel, ice chunks or whatever you have. When the lube is melted & blended pour into the tubes and let it cool. Removing the formed sticks of lube is done by warming the tubing over my propane burner and then pushing it out with a dowel rod. I push my long sticks onto sheets of newsprint and then cut them into 4" lengths. Although there is no hole in the center, I can push these sticks straight down into my Lyman luber-sizers with no effort at all.
The only hazard I can see is that the paraffin is highly flammable so use caution when melting it around an open flame.