Yes to both questions. Difference in altitude and difference in air temp all were contributing factors. Colder air is denser. Lower altitude air is denser. Colder temps make powders burn slower - some are more temp. senstitve than others. Slower the bullet velocity, the faster it drops. I had hoped to mitigate some of that by keeping the cartridges in an inside pocket where it was warmer. I honestly don't know how much they cooled off sitting in the magazine in the rifle.
The only thing that I can do is wait until we have a cold day around zero and go to the range and shoot at 500-1,000 yds and collect data.
It was a mad scramble to get the rifle dialed in before the hunt for sure!
Moving the Point of Impact (POI) up 2 moa actually moved the POI 14.66" at 700 yds. (1 MOA = 1.0472 inches per 100 yds)
A normal (average) sized Elk has a top of the back to bottom of brisket measurement of 18", so I was shooting just under them. I think that's why they turned and came towards me after the shots. The bullet was impacting the ground on the other side of the herd as I was shooting under the elk, and with the muzzle brake on the rifle, the impact noise was greater than the report of the rifle, so they thought the danger was on the opposite side.