The Effect of On-Farm Production of Various Sizes of Stocker Caffish Ictalurus punctatus on Farm Profitability.

Abstract— The effect of on‐farm production of various sizes of stocker catfish Ictalurus punctatus on farm profitability was compared to profitability of understocking fingerlings directly into multiple‐batch growout production. Vat‐graded catfish averaging 9 × 2 g (10 cm total length) and 27× 8 g (15 cm total length) were stocked into eight 0.1‐ha ponds at 100,000 fingerlingdha. Fish were fed once daily to apparent satiation and harvested 210 d after stocking. There were no significant differences (P < 0.10) in yield, feed conversion ratio (FCR), and survival across treatments. Mean gross yield (× SD) was 9,469 × 852 kg/ha and 8,846 × 2,099 kg/ha; net yield averaged 8,531× 885 and 6,374 × 2,189 kg/ha; FCR averaged 1.8 × 0.1 and 2.4 × 0.7, and survival averaged 38 × 7% and 26 ×11% for the 10‐cm and 15‐m fingerling stocking treatments, respectively. While experimental survival was low, varying survival rates of stockers in the economic analysis did not affect selection of the most profitable stocking strategies. The 15‐cm hgerlings reached a size significantly larger (361× 81 g or 32.8 × 2.2 cm) than the 10‐cm fingerlings (255 × 28 g or 29.6 × 1.4 cm) (P < 0.07). Whole‐farm budgets were developed based on three sizes of farm (65, 130, and 260 ha) and eight production strategies involving the purchase of different sizes of fingerlings for either understocking growout ponds (6,12, or 37‐g fingerlings) or to grow into stockers (114,135, 176, 255, or 361 9). Purchasing 37‐g advanced fingerlings for multiple‐batch production was the most profitable strategy for the three sizes of farm. The second most important profit‐maximizing strategy for larger farm sizes was single‐batch production with 255‐g stockers produced on‐farm, but purchasing 12‐g fingerlings to stock into multiple‐batch production was the second most profitable strategy for the smallest farm. Sensitivity analysis indicated that the results were robust to variation in survival, prices, and other production characteristics. Risk analysis indicated that purchasing 37‐g advanced fingerlings for multiple‐batch production was associated with the lowest levels of economic risk for growout production.