Your local ranch supply store will supply you with cow magnets (drop in magnets) for about 50 cents each. I don't use them because the ferrous materials have already gone through the pump causing damage and if the filter is doing its job the crap is going no further.
I drop a two"x 1/4" in the pan in front of the pickup on rebuilds and a magnetic drain plug. If the plug has more than just a bit on it I start saving for the next rebuild.:mad: