This is a weekly series that brings the insights we use to get your shipments from A to B from our carrier sales floor to your home office.
This week Loadsmart’s Director of Carrier Sales, Jordan Abrams, breaks down what happened last week and what to expect this week in the freight market in less than 60 seconds as we head into October aka pumpkin season.
What We Saw Last Week
The EOM and EOQ push continued through the week. Capacity was limited and at a premium.
We are now on two months of rejections over 25%. If you thought this was just a phase, snap out of it. This is the new normal. National Tender rejections sat sturdy and finished the week at just under 26%.
The story last week was Reefer rejections with a massive 6 point jump in the last two weeks. RFR rejections finished the week at just over 45%. RFRs are in limited supply and heading to the spot market to take advantage of the name your rate market. Expect it to be tight nationwide!
What To Expect This Week
Volume increases and market tightness still influenced by massive amounts of freight entering the market through the ports (Los Angeles, Newark). Expect SoCal and E PA to remain tight.
As we enter october expect late year produce to start ramping up!
We expect TS Linehaul continue at their historic levels currently at $2.93/mi but let’s not be surprised if the jump closer to $3.
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