7.62x51 by Lake City with "LR" hs

I just came across this image and wonder about the exact meaning of the “LR” (long range?)?
I am sure one of you will have an instant answer.

Source: internet

This is the M118 “Long Range” cartridge, previously designated “Special Ball”, and previously “Match”.

Fede, thanks, so it is a sniper cartridge?

Yes, it is a sniper and competition cartridge for M14, M21, M24 and M110 rifles.

Here’s a box. I removed 5 of the rounds to show the unusual (to me, not being a 7.62x51 NATO collector) off-white polyethylene spacer. The headstamp on these rounds is LC 98 LR, same style as above.

Mel, thanks for the image. Great reference!