Title

Commercial Catfish Production Systems

Construction, Operationg Costs and Cash Flow

Version 2.0

###

For additional programs or information contact:

Dr. Greg Clary, Extension Economist
Texas Agricultural Research & Extension Center
P.O. Box 38, Overton, Tx 75684
(903) 834-6191, fax 834-7140, g-clary@tamu.edu

Page 1
ESTIMATE OF FISH POND EXCAVATION VOLUME AND DAM VOLUME (1File: DAMCOST

WATER SURFACE WIDTH 390 FEET

WATER SURFACE LENGTH 1,117 FEET
WATER SURFACE TOTAL AREA 10.00 ACRES
AVERAGE DEPTH OF EXCAVATION 1.50 FEET
AVERAGE DEPTH OF WATER 4.5 FEET
DAM TOP WIDTH 12 FEET
DAM FRONT SLOPE 3 :1
DAM BACK SLOPE 3 :1
FREEBOARD 1 FOOT OFEET
DIRT EXCAVATION COST $0.75 PER CUBIC YARD
POND BOTTOM WIDTH 363 FEET
POND BOTTOM LENGTH 1,090 FEET
AVERAGE DAM HEIGHT 4 FEET Above natural ground
DAM CENTERLINE DIMENSIONS 414 FEET X 1,141 FEET
DAM VOLUME 11,058 CU YD
POND EXCAVATION VOLUME 22,346 CU YD 2.02 POND:DAM VOLUME

QTY EXCAVATION COST

DAM VOLUME--ALL SIDES 11,058 CU YD 1 POND(S) $16,760

DAM VOLUME--2 WIDTHS, 1 LENGTH 7,001 CU YD 0 POND(S) $0
DAM VOLUME--1 WIDTH, 2 LENGTHS 9,586 CU YD 0 POND(S) $0
DAM VOLUME--1 WIDTH, 1 LENGTH 5,529 CU YD 0 POND(S) $0
DAM VOLUME--1 WIDTH 1,472 CU YD 0 POND(S) $0
DAM VOLUME--1 LENGTH 4,057 CU YD 0 POND(S) $0

TOTAL COST 1 POND(S) $16,760

TOTAL DAM VOLUME 11,058 CU YD
TOTAL EXCAVATION VOLUME 22,346 CU YD
AVG COST PER POND ACRE $1,676
AVG COST PER POND $16,760

POND MID-WIDTH 87 FEET

POND MID-LENGTH 187 FEET
POND TOP AREA 435,630 SQUAR FEET
POND MID-DEPTH AREA 16,132 SQUAR FEET
POND BOTTOM AREA 395,670 SQUAR FEET
POND BOTTOM AREA 9.08 ACRES
GROUND LEVEL WIDTH 372 FEET
GROUND LEVEL LENGTH 1,099 FEET
GROUND LEVEL AREA 408,828 SQUARE FEET
GROUND LEVEL AREA 9.39 ACRES
EXCAVATION MID-DEPTH WIDTH 368 FEET
EXCAVATION MID-DEPTH LENGTH 1,095 FEET
EXCAVATION MID-DEPTH AREA 402,229 SQUARE FEET
EXCAVATION MID-DEPTH AREA 9.23 ACRES
AVERAGE DAM HEIGHT 4 FEET
DAM CENTERLINE (WIDTH) 414 FEET
DAM CENTERLINE (LENGTH) 1,141 FEET
TOTAL LENGTH OF DAM-4 SIDES 3,110 FEET
Watershed Pond Excavation and Dam Volume 12/08/21 File: FARMPOND Watershed Pond Excavation and Dam Volume
Water Supply Pond Excavation and Dam Volume
If Watershed enter 0; Water supply enter 1: 0 Watershed Pond Facilities and Equipment Investment
Water Supply Pond Facilities and Equipment Investment
Annual Budget for Watershed Pond Catfish Production
Annual Budget for Water Supply Pond Catfish Production
WATER SURFACE WIDTH 660 feet Sensitivity of Returns in Watershed Pond Production
WATER SURFACE LENGTH 660 feet Sensitivity of Returns in Water Supply Pond Production
WATER SURFACE TOTAL AREA 10.00 acres Cash Flow for Watershed Pond Production -
AVERAGE DEPTH OF EXCAVATION 2.33 feet Cash Flow for Water Supply Pond Production -
AVERAGE DEPTH OF WATER 8.0 feet
DAM TOP WIDTH 12 feet
DAM FRONT SLOPE 3 :1
DAM BACK SLOPE 3 :1
FREEBOARD 2 feet
DIRT EXCAVATION COST $0.75 per cu. yd.
POND BOTTOM WIDTH 612 feet
POND BOTTOM LENGTH 612 feet
AVERAGE DAM HEIGHT 8 feet above natural ground
DAM CENTERLINE DIMENSIONS 695 FEET X 695 FEET
RATIO POND VOLUME:DAM VOLUM 1.20
POND EXCAVATION VOLUME 33,066 CU YD
DAM VOLUME 27,649 CU YD

QUANTIT COST

DAM VOLUMES
ALL SIDES 27,649 CU YD 0 $0
2 WIDTHS, 1 LENGTH 20,737 CU YD 5 $92,997
1 WIDTH, 2 LENGTHS 20,737 CU YD 0 $0
1 WIDTH, 1 LENGTH 13,824 CU YD 0 $0
1 WIDTH 6,912 CU YD 0 $0
1 LENGTH 6,912 CU YD 0 $0
5 $92,997
TOTAL COST
EXCAVATION AVG COST PER POND ACRE $1,860
EXCAVATION AVG COST PER POND $18,599

POND MID-WIDTH 76 FEET

POND MID-LENGTH 176 FEET
POND TOP AREA 435,600 SQUARE FEET
POND MID-DEPTH AREA 13,376 SQUARE FEET
POND BOTTOM AREA 374,544 SQUARE FEET
POND BOTTOM AREA 8.60 ACRES
GROUND LEVEL WIDTH 626 FEET
GROUND LEVEL LENGTH 626 FEET
GROUND LEVEL AREA 391,851 SQUARE FEET
GROUND LEVEL AREA 9.00 ACRES
EXCAVATION MID-DEPTH
WIDTH 619 FEET
LENGTH 619 FEET
AREA 383,149 SQUARE FEET
AVERAGE DAM HEIGHT 8 FEET
DAM CENTERLINE WIDTH 695 FEET
DAM CENTERLINE LENGTH 695 FEET
TOTAL LENGTH OF DAM--4 SIDES 2,780 FEET

Watershed Pond Facilities and Equipment Investment 12/08/21

PRICE/ NUMBER ORTION TOTAL

ITEM UNIT UNITSHARGED CHARGE

Feed storage $2,500 1.0 1.0 $2,500.00

Mower $1,500 1.0 1.0 $1,500.00
Truck $10,000 1.0 1.0 $10,000.00
Oxygen kit $42 1.0 1.0 $42.00
Tractor $11,500 1.0 1.0 $11,500.00
Feeding system $4,500 1.0 1.0 $4,500.00
Boat, used $425 1.0 1.0 $425.00
Boat motor, used $200 1.0 1.0 $200.00
PTO aerator $1,500 1.0 1.0 $1,500.00
Electric aerator-1 per 10 ac $3,000 5.0 1.0 $15,000.00
Battery & charger $150 1.0 1.0 $150.00
Well & pump $30,000 0.0 1.0 $0.00
Pond drain & inflow system $400 5.0 1.0 $2,000.00
Roads $10 2780.0 0.5 $13,900.20
Other $0 1.0 1.0 $0.00

TOTAL $63,217.20

AVG COST PER POND ACRE $1,264.34

AVG COST PER POND $12,643.44
AVG COST PER LB SOLD $0.24

Annual Budget for Watershed Pond Catfish Production

restocking at harvest, custom harvest,
using recommended management practices 12/08/21

GENERAL SYSTEM INFORMATION

Pond production 50.00 acres 5 ponds
Stocking rate 4500.00 fish/ac
Conversion rate 1.80 lb feed/lb gain
Beginning weight 60.00 lbs/1000 fish
Ending weight 1.25 lb/fish
Growing season 200.00 days
Death loss/unharvested fish 6.00 percent

PRICE VALUE
ITEM QUANTITY UNITS OR COST OR COST

GROSS RECEIPTS

Catfish for food 5288 lbs/ac $0.70 ###

VARIABLE EXPENSES

Fingerlings 4500 fish/ac $0.12 $27,000.00

Floating feed 4.82 ton/ac $265.00 $63,858.38
Chemicals 1.00 appl/ac $80.00 $ 4,000.00
Electricity 2000.00 kwh/ac $0.07 $ 7,000.00
Tractor-optg exp 15.00 hour/ac $3.00 $ 2,250.00
Repairs $120.00 dol/ac $ 6,000.00
Harvest labor 1.00 hour/ac $5.00 $ 250.00
Custom harvest 5288 lbs $0.05 $13,218.75
Miscellaneous $10.00 dol/ac $ 500.00
Interest optg cap $124,077 dol/seas 12.0% $ 8,158.50
TOTAL VARIABLE EXPENSES ###
Total variable expenses per lb. fish sold $ 0.50
INCOME ABOVE VARIABLE EXPENSES $52,826.88

ANNUAL PAYMENTS/OVERHEAD
Land-cash lease equivalent 10.00 dol/ac 600.00

Land--purchase 60.00 acres $500.00

15.00 year note 10.00% 3944.21
Land--taxes 60.00 acres $5.70 342.00
Dam construction note 15.00 year note 11.00% 12932.69
Facilities & equipment 15.00 year note 11.00% 8791.32
Other 0.00 dol/ac 0.00
TOTAL PAYMENTS/OVERHEAD $26,010.22
Total overhead per lb. fish sold $0.10
TOTAL ALL SPECIFIED EXPENSES ###
Total expenses per lb. sold $0.60
RETURNS TO OWNER LABOR, MGMT, PROFIT, & OTHER $26,816.66
Returns per lb. sold $0.10

Sensitivity of Returns in Watershed Pond Production

varying feed conversions, stocking rates, and catfish prices. 12/08/21

Feed Stocking Price received for

conversions rates catfish ($/lb)

lbs feed/lb gain lbs/ac $ 0.60 $ 0.70 $ 0.80 lb sold finger feed interest tcost

3500.00 $(27,290) ### $ 13,835 205625.00 21000.00 62745.38 7690.79 150665.14

2.20 4500.00 $(17,541) $ 8,897 $ 35,334 264375.00 27000.00 80672.63 9264.09 176165.69
5500.00 $ (7,791) ### $ 56,834 323125.00 33000.00 98599.88 10837.39 201666.24

3500.00 $(21,211) $ (648) $ 19,914 205625.00 21000.00 57041.25 7315.73 144585.95

2.00 4500.00 $ (9,725) ### $ 43,150 264375.00 27000.00 73338.75 8781.86 168349.59
5500.00 $ 1,762 ### $ 66,387 323125.00 33000.00 89636.25 10248.00 192113.22

3500.00 $(15,132) $ 5,431 $ 25,993 205625.00 21000.00 51337.13 6940.66 138506.76

1.80 4500.00 $ 379 ### $ 53,254 264375.00 27000.00 63858.38 8158.50 158245.84
5500.00 $ 11,315 ### $ 75,940 323125.00 33000.00 80672.63 9658.61 182560.21

3500.00 $ (9,053) ### $ 32,072 205625.00 21000.00 45633.00 6565.59 132427.57

1.60 4500.00 $ 5,908 ### $ 58,783 264375.00 27000.00 58671.00 7817.41 152717.38
5500.00 $ 20,868 ### $ 85,493 323125.00 33000.00 71709.00 9069.22 173007.19

3500.00 $ (2,973) ### $ 38,152 205625.00 21000.00 39928.88 6190.53 126348.38

1.40 4500.00 $ 13,724 ### $ 66,599 264375.00 27000.00 51337.13 7335.18 144901.28
5500.00 $ 30,421 ### $ 95,046 323125.00 33000.00 62745.38 8479.83 163454.18

Cash Flow for Watershed Pond Production -

restocking at harvest, custom harvest,
using recommended management prac 12/08/21

Beginning Balance: $1,000

Minimum Balance: $1,000
Starting Month: 3 (1=Jan, 2=Feb, etc)

Annual Year 1: Year 1 Year 2: Year 2 Year 3: Year 3

Item Total 3 4 5 6 7 8 9 10 11 12 1 2 Total 3 4 5 6 7 8 9 10 11 12 1 2 Total 3 4 5 6 7 8 9 10 11 12 1 2 Total

GROSS RECEIPTS

Catfish for food $185,063 $138,797 $138,797 $46,266 $46,266 $46,266 $46,266 $185,063 $46,266 $46,266 $46,266 $46,266 ###

VARIABLE EXPENSES

Fingerlings $27,000 $27,000 $6,750 $33,750 $6,750 $6,750 $6,750 $6,750 $27,000 $6,750 $6,750 $6,750 $6,750 $27,000
Floating feed $63,858 $1,277 $2,554 $5,109 $7,663 $12,133 $12,133 $12,772 $2,554 $1,916 $1,916 $1,916 $1,916 $63,858 $1,277 $2,554 $5,109 $7,663 $12,133 $12,133 $12,772 $2,554 $1,916 $1,916 $1,916 $1,916 $63,858 $1,277 $2,554 $5,109 $7,663 $12,133 $12,133 $12,772 $2,554 $1,916 $1,916 $1,916 $1,916 $63,858
Chemicals $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000
Electricity $7,000 $583 $583 $583 $583 $583 $583 $583 $583 $583 $583 $583 $583 $7,000 $583 $583 $583 $583 $583 $583 $583 $583 $583 $583 $583 $583 $7,000 $583 $583 $583 $583 $583 $583 $583 $583 $583 $583 $583 $583 $7,000
Tractor-optg exp $2,250 $188 $188 $188 $188 $188 $188 $188 $188 $188 $188 $188 $188 $2,250 $188 $188 $188 $188 $188 $188 $188 $188 $188 $188 $188 $188 $2,250 $188 $188 $188 $188 $188 $188 $188 $188 $188 $188 $188 $188 $2,250
Repairs $6,000 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $6,000 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $6,000 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $6,000
Harvest labor $250 $188 $188 $63 $63 $63 $63 $250 $63 $63 $63 $63 $250
Custom harvest $13,219 $9,914 $9,914 $3,305 $3,305 $3,305 $3,305 $13,219 $3,305 $3,305 $3,305 $3,305 $13,219
Miscellaneous $500 $42 $42 $42 $42 $42 $42 $42 $42 $42 $42 $42 $42 $500 $42 $42 $42 $42 $42 $42 $42 $42 $42 $42 $42 $42 $500 $42 $42 $42 $42 $42 $42 $42 $42 $42 $42 $42 $42 $500
Interest optg cap $8,158 $4,079 $4,079 $4,079 $4,079 $8,158 $4,079 $4,079 $8,158

FIXED EXPENSES

Land--purchase $3,944 $3,944 $3,944 $3,944 $3,944 $3,944 $3,944

Land--taxes $342 $342 $342 $342 $342 $342 $342
Dam construction note $12,933 $12,933 $12,933 $3,233 $3,233 $3,233 $3,233 $12,933 $3,233 $3,233 $3,233 $3,233 $12,933
Facilities & equipment $8,791 $8,791 $8,791 $2,198 $2,198 $2,198 $2,198 $8,791 $2,198 $2,198 $2,198 $2,198 $8,791
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

TOTAL CASH EXPENSES $158,246 $33,590 $3,867 $6,421 $8,976 $13,446 $13,446 $14,084 $46,522 $3,228 $7,514 $3,228 $3,228 $157,549 $26,217 $3,867 $6,421 $24,524 $13,446 $13,446 $33,712 $3,867 $3,228 $23,063 $3,228 $3,228 $158,246 $26,217 $3,867 $6,421 $24,524 $13,446 $13,446 $33,712 $3,867 $3,228 $23,063 $3,228 $3,228 ###

Total available $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $139,797 $93,275 $90,047 $82,533 $79,304 ### $96,125 $92,258 ### ### $94,133 ### $93,241 $89,374 ### ### ### ### ### ### ### ### ### ### ### ### ### ### ###
Total required $33,590 $3,867 $6,421 $8,976 $13,446 $13,446 $14,084 $46,522 $3,228 $7,514 $3,228 $3,228 $157,549 $26,217 $3,867 $6,421 $24,524 $13,446 $13,446 $33,712 $3,867 $3,228 $23,063 $3,228 $3,228 $158,246 $26,217 $3,867 $6,421 $24,524 $13,446 $13,446 $33,712 $3,867 $3,228 $23,063 $3,228 $3,228 ###
Total borrowed $33,590 $3,867 $6,421 $8,976 $13,446 $13,446 $14,084 $0 $0 $0 $0 $0 $93,829 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Ending cash $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $93,275 $90,047 $82,533 $79,304 $76,076 $76,076 $96,125 $92,258 $85,837 ### $94,133 $80,687 $93,241 $89,374 $86,146 ### ### ### $102,893 ### ### ### ### ### ### ### ### ### ### ### ### ###
Recirculating pond returns above specified expenses at
varying feed conversions, production levels, and catfish prices.(1)
12/08/21

Feed Production Price Received for

Conversions Levels Catfish ($/lb)

--lbs feed/lb gain-- --lbs/ac-- $ 0.60 $ 0.70 $ 0.80

9000 #VALUE! #VALUE! #VALUE!

2.20 10000 #VALUE! #VALUE! #VALUE!
11000 #VALUE! #VALUE! #VALUE!

9000 #VALUE! #VALUE! #VALUE!

2.00 10000 #VALUE! #VALUE! #VALUE!
11000 #VALUE! #VALUE! #VALUE!

9000 #VALUE! #VALUE! #VALUE!

1.80 10000 #VALUE! #VALUE! #VALUE!
11000 #VALUE! #VALUE! #VALUE!

9000 #VALUE! #VALUE! #VALUE!

1.60 10000 #VALUE! #VALUE! #VALUE!
11000 #VALUE! #VALUE! #VALUE!

9000 #VALUE! #VALUE! #VALUE!

1.40 10000 #VALUE! #VALUE! #VALUE!
11000 #VALUE! #VALUE! #VALUE!

(1) Variable costs associated with specific production levels are adjusted, while other
costs remain constant.
 Investment costs for recirculating catfish production system
Farm Name: 12/08/21

TOTAL LAND 120 ACRES

TOTAL WATER SURFACE AREA 100 ACRES
AREA FOR CATFISH PRODN 80 ACRES
PONDS FOR CATFISH PRODN 8 NUMBER
CATFISH PRODUCTION 10000 LBS/AC
Item Quantity Units $/Unit Total $ Loan length Int. rate Month pay
(years) (percent) (dollars)
Land 120 acre $500.00 $60,000 15 11 $682
Roads (or gravel cost below) 0 miles $0.00 $0 15 11 $0

Pond Construction:
Land clearing 120 acre $250.00 $30,000 15 11 $341
Dirt moving 68,550 cubic yds $0.75 $51,413 15 11 $584
Drain & inflow-ponds 8 pond $1,539.00 $12,312 15 11 $140
Drain & inflow-system 200 feet $20.00 $4,000 15 11 $45
Water supply line/valve units $0 15 11 $0
Ground cover 100 pond ac $5.00 $500 15 11 $6
Gravel/shellrock 100 pond ac $318.00 $31,800 15 11 $361
Pump & engine-recirc 1 units $25,000.00 $25,000 15 11 $284
Power source & installation units $0 15 11 $0
Water meter 0 units $3,000.00 $0 15 11 $0
Screens 4 units $55.00 $220 15 11 $3
Water 0 ac ft $68.00 $0 15 11 $0
Lime 3 ton/ac $20.00 $6,000 15 11 $68

Total Pond Construction $161,245 $1,833

Pond cost per catfish prodn pond $20,156
Pond cost per water surface acre $1,612

Production Equipment:
Tractors
60 HP 1 units $15,000.00 $15,000 5 13 $341
100 HP 0 units $10,000.00 $0 5 13 $0
Butane kit & tank units $0 5 13 $0
Grader blade 1 units $2,500.00 $2,500 5 13 $57
Mower-batwing 0 units $3,000.00 $0 5 13 $0
Disease, parasite &
weed control equip 0 units $1,500.00 $0 5 13 $0
Feeder-tractor pull 1 units $3,500.00 $3,500 5 13 $80
Feed bin with pad 3 bins $1,066.67 $3,200 5 13 $73
Trucks
1/2 Ton 0 units $5,000.00 $0 5 13 $0
3/4 Ton 1 units $17,000.00 $17,000 5 13 $387
1 Ton units #VALUE! 5 13 ###
Other units $0 5 13 $0
Aluminum boat-16 ft 1 units $1,500.00 $1,500 5 13 $34
Boat motor-35 HP 1 units $2,000.00 $2,000 5 13 $46
Boat trailer 1 units $500.00 $500 5 13 $11
Fixed electric aerators 8 units $3,000.00 $24,000 5 13 $546
Portable aerators 2 units $2,350.00 $4,700 5 13 $107
Side-mounted mower 1 units $2,500.00 $2,500 5 13 $57
Oxygen meter & accessories 1 units $1,275.00 $1,275 5 13 $29
Misc farm shop equip 0 units $9,000.00 $0 5 13 $0
Scales 1 units $100.00 $100 5 13 $2
Water supply pump 1 units $3,000.00 $3,000 5 13 $68
Dip nets 5 units $25.00 $125 5 13 $3
Water quality test kit 1 units $500.00 $500 5 13 $11
Diesal tanks 2 tanks $2,000.00 $4,000 5 13 $91
Spray rig & trailer 1 units $1,500.00 $1,500 5 13 $34
4-Wheeler 1 units $3,000.00 $3,000 5 13 $68
Harrow 0 units $400.00 $0 5 13 $0
Disc 0 units $2,000.00 $0 5 13 $0

Total Production Equipment #VALUE! ###

Harvesting Equipment:
Boom truck or backhoe 1 units $20,000.00 $20,000 5 13 $455
Seine 1 units $4,000.00 $4,000 5 13 $91
Grader Sock 4 units $500.00 $2,000 5 13 $46
Loading frame & basket 1 units $400.00 $400 5 13 $9
Loading scales 1 units $900.00 $900 5 13 $20
Loading basket units $0 5 13 $0
Seine reel 1 units $4,000.00 $4,000 5 13 $91
Seine support rods 8 units $15.00 $120 5 13 $3
Water pump 1 units $200.00 $200 5 13 $5
Boat bracket 1 units $50.00 $50 5 13 $1
Fish baskets units $0 5 13 $0
Waders 5 units $100.00 $500 5 13 $11
Truck, 20,000 lb 0 units $40,000.00 $0 5 13 $0
Ice machine 0 units $3,000.00 $0 5 13 $0
Other 0 units $0.00 $0 5 13 $0

Total Harvesting Equipment $32,170 $732

Service Facilities:
Holding building sq feet $0 15 11 $0
Processing building sq feet $0 15 11 $0
Feed storage sq feet $0 15 11 $0
Equipment storage sq feet $0 15 11 $0
Shop sq feet $0 15 11 $0
Personnel housing sq feet $0 15 11 $0
Administrative sq feet $0 15 11 $0
Multi-purpose 1 unit $1,300.00 $1,300 15 11 $15
Water well - general use 0 units $5,000.00 $0 15 11 $0
Other sq feet $0 15 11 $0

Total Service Facilities $1,300 $15

Total Investment #VALUE! ###

Total Investment per Land Area ($/acre) #VALUE!

Total Investment per Pond ($/pond) #VALUE!
Total Investment per Water Area ($/surface acre) #VALUE!
Total Investment per Production Capacity ($/lb) #VALUE!

Total Monthly Payment--including land #VALUE!

Total Monthly Payment--excluding land #VALUE!

Total Payment per Land Area ($/acre) #VALUE!

Total Payment per Pond ($/pond) #VALUE!
Total Payment per Water Area ($/surface acre) #VALUE!
Total Payment per Catfish Production Capacity ($/lb) #VALUE!
 Operating costs for recirculating catfish production system
Farm Name: ###

TOTAL LAND 120 ACRES

TOTAL WATER SURFACE AREA 100 ACRES
AREA FOR CATFISH PRODN 80 ACRES
PONDS FOR CATFISH PRODN 8 NUMBER
CATFISH PRODUCTION 10000 LBS/AC

Annual budget for commercial catfish production

Farm Name: ###

Item Quantity Units Price Total

EXPECTED RECEIPTS Fingerlings 60 lbs/1,000

Sale weight 1.25 lbs/fish

Catfish fingerlings head $0

Catfish for food 10,000 lbs/ac $0.70 ###
Filter fish 750 lb/ac $0.50 $7,500

Total EXPECTED RECEIPTS ###

OPERATING COSTS Quantity Units Price Total

NON-HARVEST Death Loss: 5 %

Fingerlings, catfish 8400 lb/ac $0.075 $50,400

Fingerlings, filter fish 158 lb/ac $0.100 $316
Water 1.5 ac ft $10.00 $1,500

Repairs & Maintenance $10,000

Fuel & Lubricants $5,000

aeration, electric 0 units $600.00 $0
pumping 12500 gal 0.8 $10,000

Chemicals
Potassium per manganate 4620 lbs/yr $1.20 $5,544
Copper sulfate 330 lbs/yr $0.76 $251
Herbicide 1 gal/yr $117.00 $117
Parasiticide 7 lb $30.00 $210
Lab fees 6 months $80.00 $480

Feed (specify types) Conversion rate: 1.80 lb/lb gain

36% 720 tons $285.00 ###
Medicated feed 3 tons $500.00 $1,500
type 3 0 tons $0.00 $0
type 4 0 tons $0.00 $0
Labor
owner or hired manager 1 month ### $36,000
foreman 0 month $0.00 $0
Feeder 0 month ### $0
Night checker 0 month ### $0
Full-time 1 month ### $12,000
Bird control 0 hours $4.35 $0
General labor 0 month ### $0
Part-time 0 hours $0.00 $0
Fringe 5 % of total $2,400

Utilities 12 month $400.00 $4,800

Administrative 12 month $200.00 $2,400
Consultants 0 days $300.00 $0
Custom hire 0 days $0.00 $0

Total Non-Harvest Operating Costs ###

HARVEST

Labor
Harvestors 320 hours $5.00 $1,600
Delivery truck driver 0 hours $6.00 $0
type 3 0 month $0.00
type 4 0 month $0.00
type 5 0 month $0.00
Fringe 0 percent of total $0
Hauling 0 rnd tr $1.00 $0
Other $0

Total Harvesting Operating Costs $1,600

Interest-Operating Capital
11.00 percent 6 months $19,227

Total Operating Costs & Interest ###

Returns - Ownership, Taxes, Insurance, Management, Profit ###

DEBT SERVICING
Total Annual Debt Payment (from INVEST template) #VALUE!

Returns to Taxes, Insurance, Management, Profit #VALUE!

TAXES
Land 120 acre $5.70 $684
Other property
FICA $3,672
FUTA

Total TAXES $4,356

Returns to Insurance, Management, Profit #VALUE!

INSURANCE
Bldg, Roll Stk, & Equipment 1 % value #VALUE! #VALUE!
Employee Health 10 percent $48,000 $4,800
Life 2 percent $48,000 $960
Workman's Comp 8 percent $48,000 $3,840
Crop 0.072 pct of crop $20,160

Total INSURANCE #VALUE!

Returns to Management & Profit (RMP) before income taxes #VALUE!

Total Costs of Production #VALUE!

Cost per lb. fish produced ($/lb) #VALUE!
RMP per Land Area ($/acre) #VALUE!
RMP per Water Area ($/acre) #VALUE!
RMP per Area for Catfish Prodn ($/acre) #VALUE!
RMP per Pond ($/pond) #VALUE!
RMP to Total Investment (percent) #VALUE!
Cash flow for first three years of recirculating system operation
Farm Name: 12/08/21
BEGINNING BALANCE: $1,000 IMUM BALANCE: $1,000
SPECIFY STARTING MONTH: 3
Annual Year 1:
Item Total 3 4 5 6 7 8 9 10 11 12 1

EXPECTED RECEIPTS
Catfish fingerlings $0
Catfish for food $560,000 ###
Filter fish $7,500

OPERATING COSTS

NON-HARVEST
Fingerlings, catfish $50,400 $50,400 $37,800
Fingerlings, filter fish $316 $316
Water $1,500 $1,500
Repairs & Maintenance $10,000 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833
Fuel & Lubricants $5,000 $417 $417 $417 $417 $417 $417 $417 $417 $417 $417 $417
aeration, electric $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
pumping $10,000 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833
Chemicals
Potassium per manganate $5,544 $5,544
Copper sulfate $251 $251
Herbicide $117 $117
Parasiticide $210 $210
Lab fees $480 $80 $80 $80 $80 $80 $80
Feed
32% $205,071 $4,101 $8,203 $16,406 $24,608 $38,963 $38,963 $41,014 $8,203 $6,152 $6,152 $6,152
Medicated feed $1,500 $1,125 $375
type 3 $0
type 4 $0
Labor
owner or hired manager $36,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
foreman $0
Feeder $0
Night checker $0
Full-time $12,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000
Bird control $0
General labor $0
Part-time $0
Fringe $2,400 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200
Utilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Administrative $4,800 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400
Consultants $2,400
Custom hire $0

HARVEST
Labor
Harvestors $1,600 $1,200
Delivery truck driver $0
type 3
type 4 $0
type 5 $0
Fringe $0
Hauling $0
Other $0

TAXES
Land $684 $684
Other property $0 $0
FICA $3,672 $918 $918 $918
FUTA $0 $0 $0 $0

INSURANCE
Bldg, Roll Stk, & Equipment #VALUE! ### ### #VALUE!
Employee Health $4,800 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400
Life $960 $960
Workman's Comp $3,840 $960 $960 $960
Crop $20,160 $5,040 $5,040 $5,040

CASH FLOW excluding land

TOTAL AVAILABLE $567,500 $1,000 $1,000 $1,000 $1,000 ### ### ### #VALUE! #VALUE! #VALUE! #VALUE!
LESS TOTAL REQUIRED #VALUE! $70,728 $15,286 $23,569 ### $46,127 $46,047 ### $54,661 $13,315 #VALUE! $13,315
DEBT SERVICE #VALUE! #VALUE!

NET CASH FLOW #VALUE! ($69,728) ### ($22,569) ### ### ### ### #VALUE! #VALUE! #VALUE! #VALUE!
LOANS #VALUE! $70,728 $15,286 $23,569 ### ### ### ### #VALUE! #VALUE! #VALUE! #VALUE!

CASH FLOW including land

TOTAL AVAILABLE $567,500 $1,000 $1,000 $1,000 $1,000 ### ### ### #VALUE! #VALUE! #VALUE! #VALUE!
LESS TOTAL REQUIRED #VALUE! $70,728 $15,286 $23,569 ### $46,127 $46,047 ### $54,661 $13,315 #VALUE! $13,315
DEBT SERVICE #VALUE! #VALUE!

NET CASH FLOW #VALUE! ($69,728) ### ($22,569) ### ### ### ### #VALUE! #VALUE! #VALUE! #VALUE!
LOANS #VALUE! $70,728 $15,286 $23,569 ### ### ### ### #VALUE! #VALUE! #VALUE! #VALUE!
 Year 1 Year 2: Year 2 Year 3:
2 Total 3 4 5 6 7 8 9 10 11 12 1 2 Total 3 4 5

$0 $0
### ### ### ### ### ### ###
$7,500 $7,500 $7,500 $7,500

$88,200 $12,600 $12,600 $12,600 $12,600 $50,400 $12,600

$316 $316 $316 $316
$1,500 $1,500 $1,500 $1,500
$833 $10,000 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833 $10,000 $833 $833 $833
$417 $5,000 $417 $417 $417 $417 $417 $417 $417 $417 $417 $417 $417 $417 $5,000 $417 $417 $417
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$833 $10,000 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833 $10,000 $833 $833 $833

$5,544 $5,544 $5,544

$251 $251 $251
$117 $117 $117
$210 $210 $210
$480 $80 $80 $80 $80 $80 $80 $480 $80 $80

$6,152 ### $20,507 $20,507 $20,507 $22,558 $22,558 $22,558 $22,558 $20,507 $8,203 $8,203 $8,203 $8,203 ### $20,507 $20,507 $20,507
$1,500 $375 $375 $375 $375 $1,500 $375
$0 $0
$0 $0

$3,000 $36,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $36,000 $3,000 $3,000 $3,000
$0 $0
$0 $0
$0 $0
$1,000 $12,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $12,000 $1,000 $1,000 $1,000
$0 $0
$0 $0
$0 $0
$200 $2,400 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $2,400 $200 $200 $200
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$400 $4,800 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $4,800 $400 $400 $400
$0 $0
$0 $0

$1,200 $400 $400 $400 $400 $1,600 $400

$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0

$684 $684 $684

$0 $0 $0
$2,754 $918 $918 $918 $918 $3,672 $918
$0 $0 $0 $0 $0 $0 $0

#VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

$400 $4,800 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $4,800 $400 $400 $400
$960 $960 $960
$2,880 $960 $960 $960 $960 $3,840 $960
$15,120 $5,040 $5,040 $5,040 $5,040 $20,160 $5,040

#VALUE! ### #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! ### #VALUE! #VALUE! #VALUE!
$13,235 #VALUE! #VALUE! $27,590 $27,670 #VALUE! $29,721 $29,641 #VALUE! $27,590 $15,366 $37,223 $15,366 $15,286 #VALUE! $55,901 $27,590 $27,670
#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

#VALUE! ### #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! ### #VALUE! #VALUE! #VALUE!
$13,235 #VALUE! #VALUE! $27,590 $27,670 #VALUE! $29,721 $29,641 #VALUE! $27,590 $15,366 $37,223 $15,366 $15,286 #VALUE! $55,901 $27,590 $27,670
#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
 Year 3
6 7 8 9 10 11 12 1 2 Total

$0
### ### ### ###
$7,500 $7,500

$12,600 $12,600 $12,600 $50,400

$316
$1,500
$833 $833 $833 $833 $833 $833 $833 $833 $833 $10,000
$417 $417 $417 $417 $417 $417 $417 $417 $417 $5,000
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$833 $833 $833 $833 $833 $833 $833 $833 $833 $10,000

$80 $80 $80 $80 $480

$22,558 $22,558 $22,558 $22,558 $20,507 $8,203 $8,203 $8,203 $8,203 ###
$375 $375 $375 $1,500
$0
$0

$3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $36,000
$0
$0
$0
$1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $12,000
$0
$0
$0
$200 $200 $200 $200 $200 $200 $200 $200 $200 $2,400
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$400 $400 $400 $400 $400 $400 $400 $400 $400 $4,800
$0
$0

$400 $400 $400 $1,600

$0
$0
$0
$0
$0
$0
$0

$684 $684
$0 $0
$918 $918 $918 $3,672
$0 $0 $0 $0

$0
$400 $400 $400 $400 $400 $400 $400 $400 $400 $4,800
$960 $960
$960 $960 $960 $3,840
$5,040 $5,040 $5,040 $20,160

#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! ###
$49,934 $29,721 $29,641 $50,014 $27,590 $15,366 $37,223 $15,366 $15,286 ###
#VALUE! #VALUE! #VALUE! #VALUE!

#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! ###
$49,934 $29,721 $29,641 $50,014 $27,590 $15,366 $37,223 $15,366 $15,286 ###
#VALUE! #VALUE! #VALUE! #VALUE!

#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Recirculating pond returns above specified expenses at
varying feed conversions, production levels, and catfish prices.(1)
12/08/21

Feed Production Price Received for

Conversions Levels Catfish ($/lb)

--lbs feed/lb gain-- --lbs/ac-- $ 0.60 $ 0.70 $ 0.80

9000 #VALUE! #VALUE! #VALUE!

2.20 10000 #VALUE! #VALUE! #VALUE!
11000 #VALUE! #VALUE! #VALUE!

9000 #VALUE! #VALUE! #VALUE!

2.00 10000 #VALUE! #VALUE! #VALUE!
11000 #VALUE! #VALUE! #VALUE!

9000 #VALUE! #VALUE! #VALUE!

1.80 10000 #VALUE! #VALUE! #VALUE!
11000 #VALUE! #VALUE! #VALUE!

9000 #VALUE! #VALUE! #VALUE!

1.60 10000 #VALUE! #VALUE! #VALUE!
11000 #VALUE! #VALUE! #VALUE!

9000 #VALUE! #VALUE! #VALUE!

1.40 10000 #VALUE! #VALUE! #VALUE!
11000 #VALUE! #VALUE! #VALUE!

(1) Variable costs associated with specific production levels are adjusted, while other
costs remain constant.