The following report is by Montana Angler:

The Stillwater River is now fishable and a option for experienced boaters only. This is the closest consistent float fishing river near Billings, Montana that isn’t the Yellowstone River. 

The Month Ahead:

The Stillwater should produce some great fishing in most of July when flows are good and trout begin rising to big dry flies.

Long Term Fishing Forecast:

The Stillwater is a great early summer fishery and should produce some very nice action in all of July and into early August this season.  While nymphing is productive the dry fly fishing can also be very good on most days.

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Montana Fishing Reports