How well is California weathering the drought?

Peter Gleick runs down some of the impacts of California’s remarkable drought:

[W]ater still comes out of my tap, in unrestricted amounts and superb quality, at a reasonable price. And this is true of every resident in the state: drinking water supplies have not been affected, especially for the vast majority of the population that lives in cities of the San Francisco Bay area, Central Valley, and southern California.

But surely the agricultural sector has been hit hard?

While there will be some adverse impacts of some farmworkers and farmers, the overall agricultural sector will not have a bad year. Some farmworkers will be out of work this summer and fall, some farmers will be forced to fallow land because of the lack of water, and others will have higher costs associated with the need to replace surface water shortages with temporary groundwater pumping. But initial estimates from the University of California, Davis, the agricultural community as a whole will not see very large losses – a drop of perhaps 4% or so of normal farm revenue.

See, California, I told you that you can do this!