I'm afraid that some of your comments are showing a glaring lack of experience with western rural life. You've been rather reasonable overall so hopefully I can explain why your points above are incorrect.
Livestock growers in Colorado are not being compensated for the full value of a mature animal when an immature animal is killed. They are compensated for its value at the time of death. For western livestock growers, the time between spring and winter is essentially zero cost, at least for feed. That means when calves are killed and they are somehow lucky enough to actually be compensated for the value of the calf, they still lose a substantial amount of money.
On a more on-topic note that will tie into the comment about hunting dogs in the woods, there is no provision to compensate owners of dogs for the value of that animal. Most of the dogs in these story were essentially worthless in terms of dollar value, but that isn't true of all dogs.
Your point about wimp dogs in the woods isn't entirely off base. Some of them don't belong. However, people taking their pets in the woods are a very small percentage of the dogs being killed by wolves. Most of them are hounds like mine, and to call them wimps is false to the point of absurdity. They can run down and bay/tree lions, bears, bobcats, and even individual wolves with an intensity and drive that most wildlife can't duplicate. Canadian wolves are their only real kryptonite. A canine predator that is 3x their size, hunts in packs, and has a major anti-competition instinct is a bit much to ask for them to handle. There is no provision to compensate houndsmen for the loss of an entire pack of $3,000-$7,000 dogs, much less the time it takes to train them. All because a bunch of people with no knowledge, experience, or tangible investment in nature thought it sounded like a nice idea.