Insecticides, including GMO plants are a big problem, as is habitat loss. Monarch caterpillars need milkweed plants and not many farmers will thank you for that.
In one study with monarchs they collected some, put them in a box, put them on a plane and flew them four states east, tagged and released them. For the first couple of days they flew a parallel course to what they were on, then adjusted course and headed for that hidden valley. This from a creature that weighs less than a dime.
Mike.