Bioeconomic Analysis of In-Pond Raceway System Production of Foodsize and Stocker Hybrid Catfish (Channel Catfish <i>Ictalurus punctatus</i> ♀ × Blue Catfish, <i>I. furcatus</i> ♂)

The U.S. catfish industry is seeking production systems that are efficient, intensive, and profitable. Growing foodsize and stocker-sized fish in the same pond is attractive as it is often difficult to obtain larger-sized stockers early each year. This case study evaluated the performance and economics of producing foodsize hybrid catfish and stocker-sized fingerlings in in-pond raceway systems (IPRS) placed into four 0.4 ha ponds. Growout raceways (RW1/RW2) in ponds 1 and 2 were 63 m3, and 45 m3 in ponds 3 and 4 (RW3/RW4). Each pond had one (14 m3) stocker unit raceway and a 5 HP of aeration that maintained adequate dissolved oxygen levels. Average growout production was 12,050 kg/ha in 63 m3 raceways and 12,078 kg/ha in 45 m3 raceways (228 days of production) and achieved harvest weights ranging from 564 to 661 g. The raceway stocker unit had production yields ranging from 3537 to 4388 kg/ha (143 days of production) and achieved harvest weights ranging from 123 to 234 g. Stocker units in ponds 1 and 2 generated 8540 stocker–fingerlings (21,102 fingerlings/ha) and units in ponds 3 and 4 generated 7954 fingerlings (19,654 fingerlings/ha). An investment of USD 39,996 was needed for ponds 1 and 2 and USD 21,196 for ponds 3 and 4. When scenarios were analyzed financially, positive financial net returns occurred when farm level investment decreased, leading to reduced payback periods, increased net present values, and higher internal rates of return. IPRS used stocker units to culture fingerlings for future stocking of foodsize fish. IPRS provided good inventory control, and high production yields compared to traditional pond culture of catfish