054 



Madewell, Carl E. ; Carroll, Billy B. 



1969. 



Intensive catfish production and marketing. 



T.V.A., Hep. F69ACD6, 30 pp. 



This report summarizes available literature on industry growth, 



nature of the catfish farm enterprise, current production, and 



marketing; interprets the meaning of this information so far as a 



potential Tennessee Valley industry is concerned; and suggests 



possible approaches for industry development. Literature for 



1961-68 is cited. While the U.S. catfish industry is in its 



infancy, specialization is beginning to occur among farmers, 



economies of scale and complexities are evident, and returns to 



land and management may equal those for any other farm 



enterprise, although these returns are quite variable among 



operators. Factors that make farm-raised catfish a new product 



are discussed. Marketing channels, expected market growth., 



market development needs, and approaches to industry development 



are considered in the remainder of the report. Appendix tables 



contain 1947-67 Tennessee Valley fish production data; forecasts 



of channel catfish market, production, acreage, and output per 



acre to year 2020 (after Mitchell and Usry, 1967); and seven 



budget statements for different kinds of catfish operation (after 



Grizzell, 1967) . 



Subject descriptors: 



Catfish; production data; forecasts; marketing; revenue; costs; 



returns; technology. 



055 



Mange, Frank A.; Thompson, Russell G. 

 1969. 



An application of an investment model to channel catfish farming. 

 U.S. Dep. Commer., Natl. Mar. Fish. Serv., Econ . Mark. Res. Di v . , 

 unpubl. manuscr., 40 pp. 



The purpose of the model is to identify some important aspects 

 that should influence investment decisions in channel catfish 

 farming enterprises. The results exhibit a number of economic 

 relations of which the following were most important: (1) When 

 initial average profits were 20 cents per pound and the initial 

 price of land, buildings, and equipment was close to $800 per 

 acre, the initial investment policy of the firm was one of 

 continuous purchase of new capacity. (2) Higher initial average 

 profits resulted in larger maximum capacities up to a limiting 

 size, beyond which further increases in profits resulted in 

 increases in net worth, but not in capacity. (3) The investment 

 policy of the firm was found to be very sensitive to initial 

 prices of capacity higher than $800 per unit, and no new capacity 

 was added if prices of capacity reached $1,500 per acre. (4) 

 Profit accumulation and, thus, investment decisions were found to 

 be sensitive to changes in the interest rate paid for financing 

 new capacity. (Authors' abstract.) 

 Subject descriptors: 

 Catfish; investment model. 



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