The riddle which guided me to the find:
Q: Along the top I run to and fro
Check the near post, in the spot down low.
A: The bottom of the first fence post which runs across the top of the dam.
Funny story: As I was looking for the Breeder cache I made a first pass by some of the places where I thought the cache would be located. Not having any luck I decided to dump my jacket and hip pack and continue my search. A few minutes later I found the cache and the log book for this bug only to find I had put my jacket and pack down on top of the tag -- literally. I actually had to pick up my jacket to see the tag!
GO$Rs