Having farmed through two El Nino droughts, I learned to heed advice early and not procrastinate, hoping.
Unlike fire and floods, droughts develop and can be farmed, even in the low-rainfall front country.
There are three elements to successfully surviving droughts but, regardless, there will always be a cost. This can be substantially reduced if resolutely following a planned strategy.
(1) Plan as soon as high-profile meteorological agencies predict a return of El Nino
(2) Reduce feed demand really early; unload all dry stock, cull and wean early