Millerton Lake Storage Note

Millerton Lake storage is declining sharply, dropping 10.2% week-over-week to 390,235 acre-feet. The month-over-month decline of 21.9% reflects accelerating summer drawdown, likely driven by peak irrigation demand in the San Joaquin basin. Storage now sits 4.5% below both the year-ago level and the 5-year median, signaling moderately tight conditions for mid-July. The weekly rate of decline (~44,000 af/week) outpaces typical seasonal patterns, suggesting elevated outflows. Watch for continued drawdown through late summer; recovery depends on fall/winter precipitation and reduced irrigation demand in fall.