A map of the current status of the water levels in the major state reservoirs. As can be seen the situation is worse in the northern two-thirds of the state than in the southern section. California Department of Water Resources.
A major drought in California would have nation-wide implications. California is the number one state in cash farm receipts with 11.3 percent of the U.S. total. The state accounts for 15 percent of national receipts for crops and 7.1 percent of the U.S. revenue for livestock and livestock products. California’s agricultural abundance includes more than 400 commodities. The state produces nearly half of U.S.-grown fruits, nuts and vegetables. Across the nation, U.S. consumers regularly purchase several crops produced solely in California. The state is also the nation's largest agricultural exporter. –REF: California Department of Food and AgricultureExpect higher fruit and vegetable (and almond) prices.
Needless to say, all agricultural crops and livestock are dependent on a reliable and continuous water supply.
Since the rainy season in this part of the country can be extremely variable, many are assuming that the drought is bound to break soon. The area is only at the halfway point in the water season, so not to worry too much yet. However, the forecast models are so dire (for lack of any precipitation until at least February) that one might think they must be erroneous. We shall see what verifies in the weeks ahead.