Hmmm - the 7.62x39 (and its ballistic twin, 300 Blk) has more energy at any range than a 223. However to "use" that energy for hunting you need to be able to both "place the shot" - which is up to the shooter, and also have the projectile perform correctly and "deliver" that energy to the target.
My comments are in regards to "supersonic" loads . . .
The selection of hunting projectiles available to users of 7.62x39 are somewhat limited, and most may not expand at the lower velocities a 7.62x39 retains at extended ranges.
I suspect that in the USA the number of hunters reloading 7.62x39 is relatively low - driving the limited selection of projectiles. I chose to go the 300 Blk path for that reason.
Manufacturers are just starting to produce projectiles specifically designed for 300 BLK that will expand at the retained velocity you'll see at 200 meters plus (MV of around 2200 or so). The Hornady 125 gn SST is one such projectile, the Speer Gold Dot 150 gn is another (not yet available here, I have some on order).
To the OP's question, I haven't shot any deer with my 300 Blk yet, however my self imposed limit from what I have learnt from shooting it so far is that Deer and larger game need to be within 180 Meters unless carefully ranged and dialed to give exact shot placement, and I'd shoot lighter game at 200M or maybe just a bit further in ideal conditions. I've shot Fallow at around 250M with a 223 in the past, however I don't think (hope really) I'd have tried the same shots on (bigger) Redskins, and if I had the result may have been disappointing, not to mention unethical.
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