I've visited commercial gator farms and even one croc farm in Australia. All of them (and the croc farm in particular) had incredible living conditions, considering that it is a commercial farm that raises animals for slaughter. The living conditions of the breeders at the croc farm were above and beyond anything that any other captive croc sees, and this was on the same trip I got to go see Steve Irwin's croc exhibits at the Australia Zoo.
I have no issue with raising ANY animal in captivity with the end goal being the production of food, clothing, or other goods. As long as humane and healthy living conditions are provided completely up until the time of slaughter, I don't care what someone wants to farm.
Croc and gator meat is delicious btw.