The Twins traded second baseman Luis Castillo to the New York Mets on Monday for Class AA catcher Drew Butera, the son of former major league catcher Sal Butera, and Class A outfielder Dustin Martin.

The Twins announced the move at 5:45 p.m. Twins General Manager Terry Ryan was scheduled to meet with the media at 6 p.m.

Castillo, 31, is making $5.75 million this year and is eligible for free agency at season’s end. As the Twins leadoff hitter, he was batting .304 with a .356 on-base percentage.

The Twins are close to trading Luis Castillo to the New York Mets for two minor-league prospects, two major league sources said this afternoon. In return, the Twins would get AA catcher Drew Butera, the son of former major league catcher Sal Butera, and Class A outfielder Dustin Martin.

The Star Tribune confirmed that the deal was close with two major league sources, though there were indications that it still needed to be finalized and wouldn’t happen for about two hours.

Notably, the Twins have yet to post their lineup at 4:23 p.m. Usually, their lineup is posted by 3:30-4, but from all indications, they are waiting to see that the Castillo deal goes through.

The Twins did post a lineup with Castillo in it, but bench coach Steve Liddle walked out to get him on the field, and they left the field together before batting practice ended. Still haven’t heard anything official that the trade has gone through, but the word is the teams are just waiting to exchange medical reports.

Update: Twins GM Terry Ryan will meet with the media at 6 p.m. Still no official word.

Wanted to crank out a quick post this morning before hunkering down to chase trade rumors. The Twins are 2-3 against the Royals this season with 13 games still to play, including seven in the next 11 days. Kansas City is no longer a soft spot on anybody’s schedule. After going 15-12 in June, the Royals are 13-10 in July, giving them their first back-to-back winning months since June-July 2003.

AL Central standings since June 23

Royals         18-11   .621

White Sox   19-16   .543

Indians        17-15   .531

Tigers          16-15   .516

Twins          16-16   .500

A tip of the cap to cmatthewson for helping rein us in during yesterday’s discussion about the compensation the Twins would receive if Torii Hunter, Luis Castillo and Carlos Silva left via free agency at season’s end. I did some more research, and it does appear that Hunter will be a Type A free agent, Castillo is on the bubble as a Type B, and Silva won’t make either category, resulting in no compensation.

Folks, this is complicated. It’s changed even from last year under the new basic agreement. The rankings come out in late October from the Elias Sports Bureau, and they are based on statistics over the previous two years. Here’s a link to last year’s rankings, but this year, only the top 20 percent of the players in each position group will be Type A (down from 30 percent), and only the next 21 percent will be classified as Type B. Baseball phased out Type Cs after 2005.

From a story in the Toronto Globe & Mail recapping the 2006 labor agreement: Free-agent compensation has been altered, with a class of free agents (type C) eliminated. As well, compensation for a team losing a type-B free agent will be a sandwich pick instead of another team’s draft choice. Also, effective 2007, only 20 percent of players at each position will be classified as type A, down from 30 percent. Only 21 percent of players at each position will be classified as type B free agents, down from 40 percent.

Hunter ranked toward the bottom of the Type As last year (outfielders, first basemen and DHs are grouped together) but with back-to-back strong seasons, it seems likely he’ll climb into the top 20 percent. Castillo ranked toward the top of the Type Bs last year (2B, 3B and SS are grouped together), but with the A pool shrinking and Castillo’s production shrinking, that pushes him toward the bubble of the Type Bs. Silva ranked toward the bottom of the Type Cs last year among starting pitchers. A rough 2006 season will hurt him again in this fall’s rankings.

Still confused? Here’s a good story from the Detroit News that gives a few more examples. Anyway, temper my enthusiasm for just letting these Twins players walk at season’s end. Hunter should bring two extra draft picks, Castillo possibly one, and Silva none. Not that this puts me in the white flag camp just yet. As I said Wednesday, and as Terry Ryan hinted to La Velle yesterday, this is a very big series in Cleveland for the Twins.

In coming days, we can weigh the merits of trading Torii Hunter, who will be a Type A free agent, meaning if one of the top 15 finishers from 2007 signs him (the Yankees, etc.), they would send the Twins their 2008 first-round draft pick, and the Twins would get an additional compensation pick between the first and second rounds. If a bottom 15 team signs him (the White Sox, etc.), the Twins would get two compensation round picks.

Luis Castillo might be a Type A free agent, too, bringing two more picks. And Carlos Silva could be a Type B (bringing one compensation round pick). These are determined in mid-October by the Elias Sports Bureau, which uses a formula ranking the players at each position based on their statistics from the previous two years.

Personally, I like the idea of not waving the white flag just yet. If it all goes the way so many of you are sure it will (straight into the tank), then arm this scouting department with upwards of 5-6 of the first 50 picks in the 2008 draft and take your chances. In 2005, the Twins grabbed Matt Garza, Kevin Slowey, Brian Duensing and Ryan Mullins — by the end of the third round.

For those in the Trade Joe Nathan Camp, I think that’s the worst idea floated yet. The Twins should do this only if they have no intention of contending in 2008, which could well be Johan’s last season, and the end of this proverbial window of opportunity. Last I checked, All-Star closers do not grow on trees. So who closes, Pat Neshek? Fine, roll the dice. And who gets him the ball in the 7th and 8th inning?

Jesse Crain will be coming back from shoulder surgery. Juan Rincon doesn’t exactly look dependable these days. Matt Guerrier has been terrific, but beyond him, who can this team trust in a late-inning role next year, Julio DePaula?

In any of these deals, it’s feasible Terry Ryan could get back players who fill holes for 2008 and beyond. Maybe he’d find Neshek’s set-up man or the next closer that way. Maybe he could address third base. But that’s a pretty big maybe. And the risk of an entire 2008 season crumbling because of an unsettled bullpen is too great.