Feasibility of Pond Production of Largemouth Bass,Micropterus salmoides,for a Filet Market

The effects of stocking density on food‐size largemouth bass (LMB), Micropterus salmoides, production (>0.5 kg) were evaluated in a 2‐yr study by stocking LMB fingerlings (mean weight = 57 g/fish) in 0.1‐ha earthen ponds at rates of 6175, 12,350, or 18,525 fish/ha. Gross yields increased from 3989 to 9096 kg/ha as stocking density increased. No significant differences were observed in survival rates (range of 65–74%) due to density. Maximum feed consumption occurred at water temperatures of 27–30 C. Feed conversion ratio (FCR) and mean harvest weight were significantly different (P < 0.05) among densities, with the lowest FCR and the lowest mean weight found at the highest density (18,525 fish/ha). At harvest, LMB were considered to be in good condition with relative weight (W_r) values of 123–124. Dressout yield percentages were 61–62% for whole‐dressed LMB and 34–35% for shank filets. LMB grew well and reached a size adequate for targeted shank filet sizes. However, the production costs of $7.26–$9.34/kg mean that LMB production for a filet market is unlikely to be feasible. Research to lower LMB fingerling and feed costs and improved FCR would contribute to improved economic feasibility.     

Growth, Survival, Yield, and Size Distributions of Freshwater Prawn Macrobrachium rosenbergii and Tilapia Oreochromis niloticus in Polyculture and Monoculture Systems in Puerto Rico

Abstract.— Tilapia and freshwater prawn production in Puerto Rico for monoculture and polyculture systems were compared. The experiment consisted of three treatments with three replicates each. The stocking rates for the prawn monoculture, fish monoculture and polyculture treatments were respectively: 7 prawns/m², 1 tilapia/M², and 7 prawns with 1 tilapia/ m². The mean stocking size for tilapia and prawn were respectively, 7–8 g and 1–1.3 g. After 145 d of culture, yields and mean weight of tilapia in monoculture and polyculture system were not significantly different. Total yields were 2,942 and 2,769 kg/ha, respectively. Mean weights were 348 g in monoculture and 331 g in polyculture. Yields and mean weight of prawns in monoculture and polyculture were significantly different. Total yields were 1,367 and 951 kg/ha, respectively. Mean weights were 55 g in monoculture and 31 g in polyculture. Total yield in polyculture was 3,720 kg/ha showing an increase over the production separately obtained in prawn and fish monoculture.     

Growth, Yield, Dressout, and Net Returns of Bighead Carp Hypophthalmichthys nobilis Stocked at Three Densities in Fertilized Earthen Ponds

Abstract.— Bighead carp Hypophthalmichthys nobilis have been raised in the United States for two decades and sold through the livehaul market, but their profitability in monoculture has not been evaluated. Three studies were conducted in 0.10-ha earthen ponds to evaluate the effect of bighead carp stocking density on growth, yield, dressout yield. and net returns. Initially, bighead carp (average weight of 0.36 kg) were stocked at rates of 500, 320, or 130 fish/ha with three replicates of each treatment. Stocking rates for 2-yr-old fish (average weight of 2.45 kg) were reduced to 320, 220, or 130 fish/ha in the second year. Net yields of bighead carp stocked at 500 fish/ha (963 kg/ha) were significantly higher ( P < 0.05) than net yields at the 320 fishha density (771 kg/ha), and these were significantly greater ( P < 0.05) than net yields at 130 fish/ha (369 kg/ha) in the first growing season. Net yields in the second growing season were not significantly different ( P > 0.05) among densities. There were no significant differences ( P > 0.05) among treatments in yearly growth which ranged from 11–17 g/d in the first and from 6–13 g/d in the second growing season. Dressout percentages for whole-dressed, steak, shank fillet, and shank fillets with white meat only did not differ with stocking density ( P > 0.05). Enterprise and partial budget analysis indicated that monoculture of bighead carp in fertilized ponds is profitable only in the short run at average livehaul market prices, because revenues exceeded variable but not fixed costs. The negative net returns, when all costs were accounted for, indicated that it is not profitable to construct ponds solely for monoculture of bighead carp.     

Comparative Economics of US Catfish Production Strategies: Evidence from a Cross‐sectional Survey

Understanding the effects of specific management strategies on yields and economic outcomes on commercial catfish farms could provide useful guidance to catfish farmers on the most profitable sets of production practices. Data from the U.S. Department of Agriculture–National Animal Health Monitoring System (USDA–NAHMS) 2009 survey of production practices on catfish farms in Alabama, Arkansas, Louisiana, and Mississippi were used to identify five clusters of catfish farms that use various stocking densities, channel versus hybrid catfish, different aeration levels, and utilize automated oxygen sensors. The lowest production costs ($1.96/kg) were found in cluster 1 and were followed in order of increasing costs per kilogram of clusters 2 and 4 ($2.16/kg) and cluster 5 ($2.73/kg); the highest cost corresponded to cluster 3 ($2.84/kg). The lowest risk levels corresponded to the clusters with the lowest production costs per kilogram of fish and the highest risk levels to the highest production costs. This analysis demonstrated that different types of management models can achieve similar levels of production costs ($/kg), and it appears that there is not one single economically optimum way to raise catfish. The key to least‐cost production is to balance the use of inputs, their associated costs, and the yield produced to achieve economic efficiency within the farm's overall business and management model.     

An Economic Analysis of the Performance of Three Sizes of Catfish Ictalurus punctatus Fingerlings Understocked in Multiple-Batch Production

Abstract.— Different sizes of catfish fingerlings understocked in multiple-batch production may result in different survival, yield, cost, and economic risk. A pond production study was conducted to compare net yield, growth, survival, costs, and economic risk of understocking 7.6-cm, 12.7-cm. or 17.8-cm channel catfish Ictalurus punctatus fingerlings in growout ponds. Fingerlings were understocked at 15,000/ha with 1,369 kg/ha carryover fish averaging 0.58 kg. Mean growth rate increased significantly with size of fingerling understocked (1.4 ± 0.2 g/d, 1.8 ± 0.07 g/ d, and 2.2 ± 0.06 g/d for 7.6-cm, 12.7-cm, and 17.8-cm understocked fingerlings, respectively). Mean individual weights at harvest also increased significantly with size at stocking but none of the understocked fingerlings reached minimum market size (0.57 kg) over the 201-d study period. Survival of the smallest (7.6-cm) understocked fingerlings was significantly lower, but there was no difference in survival between the two other treatments. Net yields were highest for the two treatments understocked with 12.7- and 17.8-cm catfish and significantly lower for the treatment understocked with 7.6-cm fish. Growth of large carryover fish was significantly less in the treatment understocked with 17.8-cm fingerlings. Breakeven production costs were highest for the treatment understocked with 7.6-cm fish and lower for the other two treatments. The risk analysis showed that it was very likely that the 12.7- and 17.8-cm understocked fish could be grown profitably (very little risk of costs exceeding $ 1.32/kg—$1.65/kg). However, the risk of growing out 7.6-cm understocked fish at costs above market prices increased sharply. This static analysis indicated that the preferred size to understock in growout ponds would be 12.7 cm; however, additional work is needed in a dynamic framework to quantify the benefit of 17.8-cm fingerlings reaching market size earlier in the second year.     

Effect of Stocking Weight and Stocking Density on Production of Hybrid Striped Bass (Sunshine) in Earthen Ponds in the Second Phase of a 2-Phase System

Sunshine bass from Phase I or pond production were graded into two weight classes, 3 and 5 g, and stocked into experimental earthen ponds at a density of either 8,649/ha or 11,120/ ha in a 2 × 2 factorial design. After stocking, the fish were fed a commercially manufactured feed (43.0-45.5% crude protein) twice daily to satiation for 17 mo. At harvest, mean survival ranged from 67.4 to 84.8% but was highest for the fish stocked at 5g. Average production Tor ponds stocked at 8,649/ha and 11,120/ha, regardless of stocking weight, was 4,506 kg/ha and 5350 kg/ha, respectively. Production and percentages of assigned weight classes were not significantly different among treatments as a result of wide variation among replicates. Using size-dependent market prices assigned to the different harvest size groups, an economic analysis revealed gross receipts, variable costs, and total costs for the 11,120/ha 5-g treatment. Net returns were not significantly different among the four treatments due to large variation among replicates per treatment. These results confirm that the traditional phase II of pond production can be eliminated in favor of a direct stocking of phase I fish into a single production phase and economically competes very well with traditional three-phase growout management. The potential reduction in turnover time of production units achieved through the direct stock practice is an efficiency trait that should translate into significantly higher returns and a greater profit over the long term. Further reduction of stocking density combined with a stocking weight greater than 5 g should translate into greater proportion of larger, higher valued fish at harvest and a growout period of 18-20 mo, rather than the 24-30 mo traditionally needed for the combined phase II and phase III of production.     

Effect of understocking density of channel catfish fingerlings in intensively aerated multiple‐batch production

Multiple‐batch production is the most widely practiced method of raising channel catfish. Producers are increasingly adopting intensified production practices in multiple‐batch systems by increasing stocking density and aeration rates as a means to improve cost efficiencies. Proven stocking recommendations are required for the efficient implementation of recent developments in multiple‐batch production. Twelve 0.4‐ha ponds were understocked with 17,484, 20,612, and 26,124 fingerlings/ha (mean weight = 40 g/fish) over equal weights of carryover fish (0.46 kg/fish @ 4,589 kg/ha). Fish were fed once daily to apparent satiation with a 28% protein floating feed and aerated with a single 7.4‐kW electric paddlewheel aerator. Density‐dependent significant differences were absent for gross, net, daily net yields, marketable yields (≥0.54 kg), growth (g/day), and survival. Sub‐marketable yield (<0.54 kg) and feeding rate increased significantly with increased understocking density. Economic analysis revealed increased breakeven prices and diminished net returns with increased stocking density when sub‐marketable fish were not considered as revenue. These differences in production costs and profits among the three treatments became minimal when sub‐marketable fish were included as revenue. All three density treatments attained positive annual net cash flows. This study validates channel catfish understocking densities of 17,000–26,000 fish/ha to improve cost efficiency in intensively aerated, multiple‐batch production systems.     

Effect of Multiple-batch Channel Catfish, Ictalurus punctatus, Stocking Density and Feeding Rate on Water Quality, Production Characteristics, and Costs

To quantitatively define relationships among stocking densities, feeding rates, water quality, and production costs for channel catfish, Ictalurus punctatus, grown in multiple‐batch systems, twelve 0.1‐ha earthen ponds were stocked at 8,600, 17,300, 26,000, or 34,600 fingerlings/ha along with 2,268 kg/ha of carryover fish. Fish in all ponds were fed daily to apparent satiation using 32% protein floating feed. Temperature and dissolved oxygen in each pond were monitored twice daily; pH weekly; nitrite‐N, total ammonia nitrogen, and Secchi disk visibility every 2 wk; nitrate‐N, chlorophyll a, total nitrogen, total phosphorus, and chemical oxygen demand monthly; and chloride every other month. The costs of producing channel catfish at different stocking densities were estimated. There were no significant differences (P > 0.05) as a result of stocking density among treatment means of (1) gross or net yields, (2) mean weights at harvest, and (3) growth or survival of fingerlings (24–36%) and carryover fish (77–94%). Mean and maximum daily feeding rates ranged from 40 to 53 kg/ha/d and 123 to 188 kg/ha/d, respectively, and feed conversion ratios averaged 1.75. There were no differences in any feed‐related parameter as a result of density. Water quality variables showed few differences among densities at samplings and no differences when averaged across the production season. Yield of fingerlings increased as stocking density increased with significant differences between the two highest and the two lowest stocking densities. Breakeven prices were lower at the higher stocking densities as a result of the higher yield of understocked fish and similar mean individual fish weights produced at these higher stocking densities. Overall, varying stocking densities of fingerlings in multiple‐batch systems had little effect on production efficiency and water quality. Additional research on managing the population structure of carryover fish in commercial catfish ponds may be warranted.     

Economic Evaluation of Commercial-Scale, Saltwater Pond Production of Florida Red Tilapia in Puerto Rico

An economic analysis was performed of a proposed commercial-scale 20-ha saltwater pond culture operation for Florida red tilapia in Dorado, northern Puerto Rico. The analysis was based on actual cost and production data from a commercial-scale hatchery, pilot-scale grow-out trials conducted in six 0.2-ha saltwater (avg. = 22.7 ppt) ponds at the Dorado facility and on wholesale market prices ($4.96–5.18/kg) fetched by dressed-out (gilled, gutted and scaled) product. The proposed 20-ha growout facility is comprised of 25 0.8-ha earthen ponds, each supplied with sea water, brackish well water, drainage and aeration, which account for 60.8% of the capital costs. Ponds are stocked with fingerlings (0.85 g avg. wt.) at a density of 3.0 fish/m² (30,000/ha), and are harvested at 160 and 220 d, at an average weight of 545 g for a total yield of 11,445 kg/ha per crop. Imported feed ($0.55/kg), processing and distribution ($0.50/kg) and sex-reversed fry ($0.11/fry) are the highest variable costs, accounting for 30.7%, 15.4% and 13.9%, respectively, of the total annual costs. Salaries and benefits, and depreciation represent the highest fixed costs, accounting for 8.4% and 5.5%, respectively, of the total annual costs. Under these conditions, a wholesale price of $4.55/kg results in a positive cash flow by year eight, and a breakeven price, internal rate of return (IRR), net present value (NPV) and discounted payback period (DPP) of $4.08/kg, 7.6%, ($235,717) and >10 yr, respectively, suggesting that the proposed 20-ha operation is not economically feasible under these conditions. The proposed enterprise is marginally feasible if stocking density is increased to 3.5 fish/m² while at 4.0 fish/m² economic outlook is favorable. Costs can be lowered considerably by targeting production and market variables most sensitive to profitability indices, using locally-prepared feeds, and vertically integrating hatchery and growout operations.     

Delayed Feeding of Channel Catfish Fry Stocked in Ponds

We compared production variables between channel catfish, Ictalurus punctatus, nursery ponds fed according to industry standards, that is feeding immediately at stocking, to an alternative practice of delaying feeding for 6 wk after stocking in an effort to utilize natural pond productivity and reduce feed use. Twelve 0.04 ha ponds were fertilized and stocked with swim‐up fry (4–5 d posthatch) at a rate of 10,000/pond (250,000/ha). Ponds were then randomly assigned to either the standard feeding protocol (feeding daily starting immediately at stocking) or an alternative feeding protocol (no feeding until 6 wk post‐stocking). After 18 wk of production, there were no differences in water quality or zooplankton abundance between the two treatments. Fish length was not affected by treatment throughout the study, and survival and total weight harvested were similar. Total kg of feed fed was significantly reduced in the delayed feed treatment, averaging 26 kg/pond less feed fed. If proper fertilization practices are implemented, large numbers of desirable zooplankton for catfish fry culture are attained, and these zooplankton are able to sustain catfish fry stocked up to 250,000/ha. Therefore, no commercial diets are required during the first 6 wk of culture, saving over $95.55/ha in initial feed costs.     

Economics of Intensively Aerated Catfish Ponds

The US catfish industry is evolving by adopting production‐intensifying practices that enhance productivity. Catfish producers have increased aeration rates over time, and some now use intensive rates of aeration (>9.33 kW/ha). Costs and production performance were monitored at commercial catfish farms using high levels of aeration (11.2–18.7 kW/ha) in Alabama, Arkansas, and Mississippi. A multivariate‐cluster analysis was used to identify four different management clusters of intensively aerated commercial catfish farms based on stocking density, size of fingerlings at stocking, and feed conversion ratios (FCR). Breakeven prices of hybrid catfish raised in intensively aerated pond systems were estimated to range from $1.86/kg to $2.17/kg, with the lowest costs associated with the second greatest level of production intensity. The two medium‐intensity clusters generated sufficiently high revenues for long‐term profitability. However, the least‐intensive and the most‐intensive clusters were economically feasible only when catfish and feed prices were closer to less probable market prices. Feed price, FCR, and yield contributed the most to downside risk. Intensive aeration in catfish ponds, up to the levels analyzed in this study, appears to be economically feasible under the medium‐intensity management strategies identified in this analysis.     

ANALYSIS OF THE COMMERCIAL-SCALE COST OF PRODUCING FRESHWATER PRAWN Macrobrachium rosenbergii IN THE SOUTH CENTRAL UNITED STATES

Freshwater prawn, Macrobrachium rosenbergii, production costs have mainly been estimated from experimental results or from limited numbers of producers. This paper discusses results from a cost of production survey sent to freshwater prawn producers in the south central United States in 2005. Feed and stocking costs were the highest variable costs and were related to the proximity of the input sources. Inorganic fertilizer cost was significantly greater for the south region while electrical costs were greater for the west region of the study area. The average prawn breakeven price covering all costs was $12.74, $14.27, $16.12, $17.18, and $14.55 per kilogram for producers in Kentucky, Mississippi, Tennessee, “Other States,” and for all respondents, respectively. Producers could decrease costs by improving yields, i.e., by increasing survival and/or weight gain, or by decreasing stocking, feed, and electrical costs; or by finding multiple uses of the equipment used to grow-out and harvest freshwater prawns.     

Production Characteristics, Water Quality, and Costs of Producing Channel Catfish Ictalurus punctatus at Different Stocking Densities in Single-batch Production

Channel catfish Ictalurus punctatus farming is the largest component of aquaculture in the USA. Culture technologies have evolved over time, and little recent work has been conducted on the effects of stocking density on production characteristics and water quality. Twelve 0.1‐ha ponds were stocked with 13‐ to 15‐cm fingerlings (16 g) at either 8600, 17,300, 26,000, or 34,600 fish/ha in single‐batch culture with three replicates per treatment. Fish were fed daily to apparent satiation with a 32% floating commercial catfish feed. Nitrite‐N, nitrate‐N, total ammonia nitrogen (TAN), total nitrogen, total phosphorus, chemical oxygen demand (COD), Secchi disk visibility, chlorophyll a, chloride, total alkalinity, total hardness, pH, temperature, and dissolved oxygen (DO) were monitored. Ponds were harvested after a 201‐d culture period (March 26, 2003 to October 13, 2003). Net yield increased significantly (P < 0.05) as stocking density increased, reaching an average of 9026 kg/ha at the highest density. Growth and marketable yield (>0.57 kg) decreased with increasing stocking density. Survival was not significantly different among densities. Mean and maximum daily feeding rates increased with density, but feed conversion ratios did not differ significantly among treatments (overall average of 1.42), despite the fact that at the higher stocking densities, the feeding rates sometimes exceeded 112 kg/ha per d (100 lb/ac per d). Morning DO concentrations fell below 3 mg/L only once in a 34,600 fish/ha pond. Concentrations of chlorophyll a, COD, nitrite‐N, and TAN increased nominally with increasing feed quantities but did not reach levels considered problematic even at the highest stocking densities. Breakeven prices were lowest for the highest stocking density even after accounting for the additional time and growth required for submarketable fish to reach market size. While total costs were higher for the higher density treatments, the relatively higher yields more than compensated for higher costs.     

Economic analysis of overwinter feeding regimens for channel catfish (Ictalurus punctatus)

Abstract

Overwintering is a major source of uncertainty for US catfish farmers, particularly decisions on feeding. To address this issue, economic analysis was undertaken using results from pond experiments. Three overwintering strategies (full‐feed, partial‐feed, and no‐feed) for two year classes of catfish were compared. Year 1 fin‐gerlings were 22 g and year 2 fish were 420 g at stocking. Winter feeding was based on temperature and body weight percentages; (1) full‐feeding followed the regime during the November to April period; (2) partial‐fed treatments followed the temperature/body weight regimen only during the months of November, March and April, with no feeding during the coldest months of December to February; and (3) no‐feeding treatments received no feed during the overwinter period. Cost and returns were estimated for each alternative and each alternative was assessed using: (1) overwinter period experimental results, (2) overwinter period experimental results extended through the grow‐out period, (3) overwinter period experimental results extended to minimally acceptable fish sizes, and (4) adjusted estimates to reflect commercial‐scale practices. Sensitivity analyses on feed conversion ratios, stocking rates and fish selling prices were also conducted on commercial‐scale enterprises. Results consistently showed partial‐fed overwinter practices to be most profitable. Secondly, year 1 fish always had higher returns than year 2 fish due largely to the additional overwintering period and associated variable and fixed costs incurred by the year 2 fish production practices. The data upon which this analysis was based do not include the possibility of having a harvest‐sized fish going into the winter period.     

Comparative Production of Colossoma macropomum and Tilapia nilotica in Panama

The production of Colossoma macropomum (tambaquí), a relatively little studied fish from the Amazon and Orinoco basins, was compared with that of Tilapita nilotica , a fish well known for its good production characteristics. The experimental design was randomized and arranged in 2 × 2 factorial with each species being tested at 2,500 and 10,000 fish/ha. Treatments were replicated three times. Fingerlings (22–31 g) were stocked into 870 m² earthen ponds, fed a commercial diet (25% protein), and harvested after 129 days. Mean yield (kg/ha) for tilapia at high and low density was 3,361 and 917, respectively, and for colossoma was 3,682 and 977, respectively. The yield difference between species was not significant ( P > 0.05) while the difference between densities was highly significant ( P < 0.01). Although yield was not different for the species, tambaquí weight gain was significantly greater than that of adult tilapia because of reproduction in the tilapia ponds. Mean tilapia and tambaquí weight gains (g) for low density were 379 and 471, respectively, and 321 and 395, respectively, for high density. Increasing the stocking density fourfold resulted in an almost fourfold increase in net yield for both species, although individual weight gains were not significantly affected. There was no interaction between species and density for the production characteristics studied.
This study concluded that under culture conditions that included a short growth period, high quality rations, and stocking rates up to 10,000/ha, production of tambaquí was equal to, or better than that of tilapia. Also, stocking rates lower than 10,000/ha would result in lower yields of both species while not producing a significantly larger fish.     

Factors affecting fish yield and profit in fish pen culture in flooded ricefields

In recent years, a rotational system consisting of two rice crops followed by a fish pen culture during the monsoon flood period was adopted in parts of the flood-prone region of the Mekong Delta. In this paper, we use the survey data from 51 fish pen farmers at Co Do and Vinh Thanh district, Can Tho City, to investigate the factors affecting fish yield and profit in such fish pen culture system. The net yield of all stocked fish varies from 377 to 3,782?kg/ha/crop while the return above variable costs varies from ?5.3 to 9.8 million VND/ha/crop. Low fish price at harvest and the difficulty to sell below market sized fish at a period of oversupply are the main problems for fish pen culture. Fish net yield significantly increases with stocking density and is linked with specific polycultures. Common carp and bighead carp perform best in fish pen culture, both in production and profit considerations. Harvest body mass of common carp is mainly limited by increasing common carp stocking density. Therefore, a stocking density of common carp of about 6,000 fish/ha is recommended to obtain the optimum combination of reasonable body masses, and a good price, as well as a high return above fingerling costs.     

Super Intensive Culture of Red-Tailed Shrimp Penaeus penicillatus

Two continuous grow-out experiments of red-tailed shrimp Penueus penicillatus were conducted for one year in a super intensive system with a stocking density of 171 and 286 postlarvae/m², respectively. The postlarval shrimp (Ph_8–12) were cultured in three 0.14 ha earthen ponds with concrete dikes. The shrimp were fed with a commercially prepared feed four times a day. Water quality parameters from the second trial varied as follows: water temperature from 23.0 to 30.4 C, salinity from 15.33 to 21.00 ppt, dissolved oxygen (DO) from 3.47 to 7.34 mg/L, NH₃-N from 0.002 to 0.869 mg/L, nitrite-N from 0.013 to 0.844 mg/L, and nitrate-N from 0.021 to 1.795 mg/L. Ammonia-N increased from 0.022 to 46.110 mg/L, while the pH declined from 8.12 to 7.32. Yield was 4,650 kg/0.42 ha from the first crop in 131 days and 5,160 kg/0.42 ha from the second crop in 141 days. The productivity of this system producing P. penicillatus was 11–12 tons/ha/crop.     

The Costs and Effects of Alternative Winter Feeding Strategies for Channel Catfish Ictalurus punctatus in Multiple-Batch Production

Previous work suggested that feeding catfish, Ictalurus punctatus, more frequently over the winter might reduce weight loss. Twelve 0.10-ha ponds were stocked with 987 kg/ha market-sized fish and 2,960 kg/ha sub-marketable fish in November 2008 with treatments of: (1) unfed, (2) fed daily (fed 90 d), and (3) temperature-threshold feeding (fed 62 d). Total gross yield was significantly greater for the temperature-threshold feeding treatment than the unfed control, but survival and mean weight of fish at harvest were not. Net yield was negative for all treatments, due primarily to mortality of market-sized fish. Plasma glucose and insulin-like growth factor-1 did not differ significantly, but plasma osmolality was significantly lower in fasted than in fed fish. Mean feed consumption rates in vats provided evidence to support more frequent feeding over the winter. Overwintering costs were $0.11/kg with temperature-threshold feeding. Research on strategies to reduce winter mortality has potential to reduce overwintering costs.     

Production Characteristics and Economic Performance for Four Channel Catfish,Ictalurus punctatus,Pond Stocking Density-Cropping System Combinations

Fingerling channel catfish, "Ictalurus punctatus," were stocked into sixteen, 0.4-ha ponds at 11,120 fish/ha or 19.770 fish/ha. Half the ponds at either density were managed as single-batch cropping systems and half as multiple-batch cropping systems. Each of the four combinations in the 2 X 2 factorial design was replicated in four ponds over a 3-year study period. Ponds were not drained until the study was terminated. Average net fish production (totaled over 3 years) was 23,717 kg/ha for the single-batch, high-density treatment; 19,501 kg/ha for the multiple-batch, high-density treatment; 17,396 kg/ha for the single-batch, low density treatment; and 16,857 kg/ha for the multiple-batch, low- density treatment. Both stocking density and cropping system significatly (P < 0.05) influenced net production. Average size of fish at harvest was significantly (P < 0.05) lower at the high stocking density and in the single-batch cropping system. Feed conversion was better (P < 0.05) at the low stocking density and in the single-batch cropping systems. Poorer feed conversion in multiple-batch systems is believed due to harvest-to-harvest carryover of large fish, which convert feed to flesh less efficiently than small fish. Observed mortality and total fish loss (observed mortality plus fish unaccounted for upon termination of the study) were not affected (P > 0.05) by cropping system but were significantly (P < 0.05) higher in ponds stocked at the high density. Production data were used to assess discounted net revenues from a synthetic 131-ha farm based upon a price of $1.54/kg either for all fish harvested or for fish harvested that were ≥0.35kg. When based on all fish harvested, discounted net revenue was highest for the single-batch, high-density treatment, but the low average size of fish harvested from ponds in that treatment (0.49 kg/fish) would not be acceptable across the industry. The multiple-batch, low-density treatment had the second highest discounted net revenue based upon all fish harvested and the highest revenue when only fish ≥ 0.34 kg were valued. Of the treatments analyzed, this was judged the economic choice for the channel catfish industry.     

Shrimp Yields and Economic Potential of Intensive Round Pond Systems

Three intensive growout trials using Penaeus vunnumei were conducted in round ponds in Hawaii in 1987. A 337 m² experimental pond was stocked at 100 shrimp/m² for two trials; a 2,000 m² commercial prototype pond was stocked at 75/m² for one trial. In the experimental pond trials, shrimp survival averaged 88 ± 10% (SE) and feed conversion averaged 2.2 ± 0.2. Growth averaged 1.5 ± 0.3 g/week, yielding 18.2 ± 1.7 gram shrimp in 80 ± 5.5 days. Combined production in the experimental trials was 32,272 kg/ha in 174 days (from stocking of trial 1 to harvest of trial 2). Comparing these results to 1986 results (Wyban and Sweeney 1988), it was concluded that shrimp growth is not affected and production is doubled by increasing stocking density from 45/m² to 100/m². Pooling data from 1986 and 1987, a significant linear regression was obtained when weekly growth of shrimp above four grams individual size was regressed on mean weekly pond temperature: growth = 0.37 * temperature - 8.44, (r²= 0.41; P < 0.01). Multiple regression to examine effects of shrimp size, pond biomass, and shrimp age on the temperature-growth relationship was not significant. In the commercial prototype pond trial, survival was 67% and feed conversion was 2.0. Growth averaged 1.4 g/week, yielding 18.1 gram shrimp in 88 days. Production was 9,120 kg/ha. Individual shrimp size distribution at harvest in the commercial pond was similar to experimental pond results, indicating that shrimp growth in the two systems was comparable. Financial characteristics of a hypothetical 24 pond shrimp farm using these results were determined using an electronic spreadsheet model (hung and Rowland 1987). Feed costs were 40% of total operating costs while postlarvae and labor were 14% and 16% of total operating costs, respectively. Breakeven price (BEP) was far more sensitive to changes in revenuedetermining inputs such as survival and growth than to comparable changes in costdetermining inputs such as feed and postlarvae costs. Together these results suggest that commercial scale round pond production mimics experimental scale production and that round pond technology has commercial potential.