Explaining the Whole Farm Economic Model

Under the tutelage of SBAR Agricultural Economists (part of the System Performance & Sustainability Component), a new Whole Farm Economic Model is under development and being refined. When complete, the model will show the economic viability at different acreages of guayule grown on Arizona farms, and guar grown on New Mexico farms. Trent Teegerstrom and Clark Seavert presented the basics to a group of SBAR students and researchers, who were able to ask informative questions so that they better understand what parameters are necessary for generating robust economic models. The models are used for determining the “break-even” points for future crop production, and allows growers/producers to make informed decisions about when and how much of a crop to plant. All of this leads to understanding and then developing the support for a bioeconomy around guayule and guar in the Southwest.