I put 3" of polyiso foam in the walls, An 1-1/2" "layer" on the outside of the posts (framing) between the wall girts, then another 1-1/2" layer on the inside. In my case (framed 16"oc) vertically between the studs and that left me enough room for an r-13 layer of regular f/g batts to flush out with the interior framing. around here, 2" of foam is enough to have the 'dew point' inside the foam, that's what you want. Fwiw there's also tyvek under the (metal) siding and each layer of foam had the edges foamed tight. It looks like you've decided to insulate, and f/g would be ok down south, but if your going to do it where the winter's long & cold, do it right. Read up on the dramatic performance loss of f/g with ANY air movement through the wall cavity witch is very hard to eliminate completely, esp with "barn metal" on the exterior.
In my case I found 4x8 sheets of used foam from a commercial re roof, cut & fit to the framing. It was a good bit of labor but spray foam was not in the budget with 195' of 16' high walls and spray foam going for around $1/board ft. (144cu./in.) for closed cell.