This study uses choice experiments to assess fresh produce and hay/forage grower preferred drought management strategies, the level of drought at which growers adopt specific management strategies and the level of drought at which they choose to exit farming in the arid west. Results show preferred strategies differ by drought level and across grower groups. Using logit models, we find that fresh produce growers prefer adopting a water-saving technology (cover crops, manure/mulch application, etc.) and hay/forage growers prefer switching to a more efficient irrigation system. Growers would only exit farming in extreme circumstances such as loss of all water resources. Policies aimed at assisting growers with drought adaptation should focus on preferred strategies to ensure effectiveness. Incentives to offset adoption costs are also recommended. Additionally, growers may benefit from information related to productivity changes under various drought management strategies and drought scenarios.