The winter weather really has given us very little reprieve! Fishing everywhere is "ok" right now but the above-freezing periods are short or non-existent most days - a trend that looks to be around for at least another week. Expect to find in slower water, eating a variety of nymphs including egg variations, sowbug, scuds, midges, and Crayfish imitations fished under a strike indicator. There will be some fish rising to midges along the edges - I would wait until later in the day to go look around as the cold nights are keeping plenty of slush ice on the surface, early in the day.
The lower Madison River has diverse wild-trout habitats from Ennis Lake to Three Forks. Beartrap Canyon has raging whitewater through boulder fields and narrow gorges. The river flows through a rugged valley before joining with the Jefferson and Gallatin Rivers. Fish species include Rainbow, Westslope Cutthroat, and Brown Trout. Both novice and advanced anglers can find ample opportunities to fish.
Read the "Lower Madison River Fishing Guide" for a comprehensive introduction to fly fishing in Montana on the lower Madison River from the Bozeman fly fishing guides with Fins and Feathers.