Dang right that cheese is too high. The stuff I get at WalMart is the cheapest I have found. I only make up 6 pounds of cheese at a time and it still costs me over $20 just for the cheese. And it lasts me about half the year. When I get down to my final 1/2 gallon I make some more. Cheese is the key ingredient for sure. I also use whatever I get find for free or left overs to make up the rest. All old flour, Masa, or cornmeal etc that is old or has weevils in it goes into the bait making bucket. Of course no bacon grease goes to waste either
Almost forgot, that Garlic ain't cheap either.