The good news and the bad news. The bad first - the closer you get to Yellowstone, the higher the cost for lodging. Fishing pressure on streams such as the Firehole, Lamar, Madison and Yellowstone can be a little discouraging. Traffic inside the Park can be a problem and it will always take you twice as long to get somewhere than you planned for, (all it takes is a bear near the road and the traffic grinds to a halt).
The good news - If I were going to spend some time in Yellowstone fishing, I would concentrate on the Northwest corner of the park. Grayling Creek, Fan Creek, Specimen Creek, Cougar Creek and the Gallatin. These streams get much less pressure and you can have same great days here fishing dry flies to willing fish. Your best bet for inexpensive lodging will be around Ennis which is about 70 miles from West Yellowstone. If I were going to fish I would spend my daytime on one of the small streams I've mentioned, and then hit the Madison around Seven Mile Bridge in the evenings as this is the best time of the day to fish the river. For a guided trip I would try and get a half day evening trip from Blue Ribbon Flies in West Yellowstone (just checked and they don't do half day trips) or Madison River Fishing Company in Ennis on the Madison. Late June thru August are probably your best bet as run-off should be over. There's a Salmon Fly hatch on the Madison that runs from late June to early July and then the Caddis take over.
Hope this helps
Last edited by Grizzly Wulff; 02-13-2012 at 05:36 PM.
Reason: Update
Dan S
"I still don't know why I fish or why other men fish, except that we like it and it makes us think and feel." Roderick Haig-Brown, A River Never Sleeps