Definitly talk to him. On items like this, his wholesale price is probably as high or higher than Cabela's retail price.
Cabela's and the other big box stores have enormous buying power. They can beat down the price for a manufacturer based on volume. They may sell a thousand of this item to one that your pro shop sells.
It's the nature of the retail business today.
You have to make the decision to support your pro shop or not. Does he provide you with the expertise and service that you need and can't get from Cabela's? Can he keep the doors open with the other business that you give him? Is he a Pro Shop like Len and others described in a recent thread or just an archery shop?
Please let us know what you do.
Thanks