20 inch is the longest you want, anything pass that you are losing velocity.
Your not going to loose velocity by increasing barrel length over 20". Perhaps you're referring to rate of acceleration which may start to decrease. Although there are so many factors, my little brain won't even go there.
OP:
For "Long Range" .223 you're looking at 20~24 inch barrels. I think an 18.5' Barrel will do everything to ever want it to do though. 5~500 (more if you're cool) yards depending on optic/ammo, like 99% the velocity of a 20" barrel and more comfortable to point. Try some 68~75gr Hornady BTHP or Amax loads. They're affordable and not too hard to tune.
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