Visit Madison River Fishing Company and see what their live feed looks like and get water data for this report at mrfc.com:

Please note: The Sun West and Wolf Creek (Kelly) Bridges are EXTREMELY dangerous right now. Floating Lyons to Palisades is NOT recommended. 

Flows have leveled off. Still lots of sedimentation in the river, but the optimist in me says that it has become slightly cleaner over the last two days. The fishing has been surprisingly consistent lately. Wading is your best option, but our float trips have been turning in some nice fish. 

The key right now is getting your flies into the slowest and deepest water you can find. The fish are not spooky right now and you can practically stand on top of them. The most consistent action has been with a completely dead drift. Your chances seem to increase drastically right now when you are able to achieve a drift with minimal drag. Just make sure you have a 1″ indicator and plenty of split shot. There are a lot of snags along the bottom right now. Bring some extra flies. I lost 8 yesterday evening!

The streamer has been so-so here in town. A natural sculpin imitation in the 2-4″ range is always a go-to. I have also heard that white articulated streamers have been effective as well. The key is to cover a lot of water. There’s bound to be a nice one looking for a big meal.

The insect hatches at the moment are rather unimpressive. There seems to be an abundance of small caddis with some bombers mixed in. We aren’t seeing very consistent surface activity, but with the water it can be tough to see them rise on the edge of a seam. There have been quite a few instances of larger fish aggressively taking something near the bank, only to never been seen again. Regardless, there is some fun water to fish with a dry fly right now. It is by far the least frustrating option. Try a mini-chubby, large parachute adams or a #10-#12 elk hair caddis. You’ll get something to eat it!