Well this is the specs for the Monterra:
Brand Classic Elite [www]
Distributor Classic Elite Yarns, Inc. [www]
Yardage 127 yds.
Yarn Weight Heavy Worsted
Fiber Content Wool , Llama
Gauge (st. /4 in.) 16
Needle Size(s) 9 US (5.5mm)
Availability Currently Produced
Care Hand Wash Cold & Dry Flat.
and here's the specs for the elann stuff:
Fibre Content: 50% Highland Wool/ 50% Llama
Made In: Peru
Care: Hand Wash/ Dry Flat
Gauge: 17 st/4 inches 5.0 mm (US 8)
Yardage: 83 m (91 yards)
Size: 50g (1.75 oz) ball
Price: $2.98 USD
So you definitely have less yardage and the gauge seems like it may be off some. I would think it is close enough though for a blanket...but i may be off there.