Missouri River
Below Holter Dam near Craig, Montana, the Missouri River becomes one of the most prolific tailwater trout fisheries in the world. Its nutrient-rich flows from the dam create ideal conditions for massive insect hatches and trophy-sized rainbow and brown trout.
Current Conditions
Typical Monthly Flows
Historical median discharge (CFS) by month — Missouri River
Overview
The Missouri River below Holter Dam is a tailwater trout fishery of legendary proportions. The cold, clear water released from Canyon Ferry and Holter reservoirs creates conditions that support an estimated 5,000 to 7,000 trout per mile — numbers that rival any river in the world.
The Missouri's productivity is driven by aquatic vegetation and insect life that thrives in the stable, nutrient-laden tailwater flows. Hatches are prolific and predictable: midges year-round, Blue-Winged Olives in spring and fall, PMDs and caddis in summer, and Trico spinners that blanket the surface in August and September.
The most popular section runs from Holter Dam to the town of Cascade, roughly 35 miles of floatable water. The upper stretch near Craig is the epicenter, with multiple access points and world-class guides based in the area. Trout average 15 to 18 inches with fish over 20 inches caught regularly.
What makes the Missouri unique among Montana rivers is its consistency. As a tailwater, it doesn't suffer from the high, muddy runoff that can blow out freestone rivers for weeks in spring. The dam moderates flows and temperatures, creating fishable conditions nearly every day of the year.
The Missouri rewards technical fishing. During heavy hatches, trout become selective feeders that demand precise fly selection and drag-free drifts. Sight-nymphing with small flies is a year-round staple. Streamer fishing with articulated patterns produces the biggest fish, particularly on cloudy days and during fall.
Species Present

Rainbow Trout
The rainbow trout is Montana's most widespread gamefish, prized for its aerial acrobatics and willingness to take dry flies. Native to Pacific drainages, rainbows have been stocked extensively and now thrive in most Montana rivers. They are typically identified by their pink lateral stripe, spotted tail, and silvery body.

Brown Trout
Brown trout are the wariest and most challenging trout species in Montana waters. Originally from Europe, browns have established self-sustaining populations throughout the state. They are recognized by their golden-brown coloration with dark spots surrounded by light halos. Browns grow larger than most other trout species and are famous for aggressive streamer takes.

Mountain Whitefish
Mountain whitefish are native to most Montana river systems and are often overlooked by anglers focused on trout. These fish readily take nymphs and small dry flies and can provide excellent sport, particularly in winter when trout fishing slows. Whitefish are easily identified by their small, downturned mouths and silvery, elongated bodies.
Hatch Chart
| Insect | Suggested Fly | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Midges morning | Zebra Midge | ||||||||||||
Blue-Winged Olive (Baetis) afternoon | BWO Emerger | ||||||||||||
Blue-Winged Olive (Baetis) afternoon | BWO Emerger | ||||||||||||
Caddisflies (various) evening | X-Caddis | ||||||||||||
Pale Morning Dun morning | PMD Comparadun | ||||||||||||
Trico morning | Trico Spinner | ||||||||||||
Terrestrials (hoppers) afternoon | Chubby Chernobyl |
Midges: Year-round. The foundation of Missouri River fishing. Size 18-24.
Blue-Winged Olive (Baetis): Incredible spring BWO hatches. Size 16-20.
Blue-Winged Olive (Baetis): Fall BWOs are equally impressive.
Caddisflies (various): Mother's Day caddis and summer caddis. Size 14-16.
Pale Morning Dun: World-class PMD hatches. The best dry fly fishing of the year.
Trico: Legendary Trico spinner falls. Technical, rewarding fishing. Size 18-22.
Terrestrials (hoppers): Hopper-dropper rigs work well along grassy banks.
Recommended Flies
Parachute Adams
Top PickDuring any mayfly hatch
Best in summer
PMD Comparadun
Top PickTHE fly during PMD hatches
Best in summer
Trico Spinner
Top PickTrico mornings are legendary
Best in summer
Zebra Midge
Top PickYear-round staple, essential in winter
Best in winter
RS2
Top PickBWO and midge emerger
Best in spring
Pheasant Tail Nymph
Top PickSight-nymphing mainstay
Best in spring
San Juan Worm
Top PickAfter rain events
Best in spring
Sex Dungeon
Top PickTrophy browns on cloudy days
Best in fall
Access Points & Boat Launches
Holter Dam
Wade AccessDirectly below the dam. Walk-in wade access to the most productive water.
Craig Bridge FAS
Boat LaunchPrimary launch for the Craig section. Full facilities, guide staging area.
Mountain Palace
Boat LaunchMid-section access between Holter Dam and Craig. Boat ramp and parking.
Prewett Creek FAS
Boat LaunchPopular take-out below Craig. Well-maintained ramp.
Cascade FAS
Boat LaunchLower section access. Long floats from Craig end here.
Regulations
Regulations
Open year-round below Holter Dam. Holter Dam to Cascade: artificial flies/lures only, 5 trout daily combined, only 1 brown over 18" and only 1 rainbow over 18". Mountain whitefish: 20 daily. No hoot-owl restrictions typically apply (tailwater temperatures remain cold). Montana fishing license required — non-resident season license ~$96–110 (Conservation + Fishing). Check FWP at fwp.mt.gov for current regulations.
Always verify current regulations with Montana Fish, Wildlife & Parks before fishing.
Quick Facts
- Region
- Central Montana
- Best Seasons
- spring, summer, fall, winter
- Species
- Rainbow Trout, Brown Trout, Mountain Whitefish
- USGS Gauge
- 06066500
Local Shops & Guides
Headhunters Fly Shop
Craig, MT
The go-to shop for Missouri River fly fishing based in Craig, MT. Expert guides, current conditions reports, and everything you need for a day on the Missouri.
(406) 235-3447
Montana Troutfitters
Bozeman, MT
Premier guide service based in Bozeman offering float and wade trips on the Gallatin, Madison, Yellowstone, and Missouri rivers. Experienced guides, top-quality equipment.
(406) 587-4707