Cost efficiency measures of a sample of catfish farms in Chicot County, Arkansas are estimated using a data envelopment analysis technique. A measure of overall efficiency is used to determine operator's characteristics, farm practices, and institutional support services that are likely to lead to higher farm level cost efficiency. Results indicate that live catfish production could increase by 55% using the same level of inputs if all farms were operating at the minimum average cost curve. Higher feeding rate and availability of extension services were associated with increased cost efficiency. Higher stocking density affected overall efficiency negatively. The marginal value of extension contacts in Chicot County was estimated to be $2988. This study was conducted when catfish prices were at the lowest level in ten years. Some of the results are indicative of farms struggling to meet short-run financial obligations rather than normal farm practices.