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.
What We Saw Last Week
- Last week Volumes returned after their seasonal thanksgiving decrease. They increased 30% week over week and settled just under 16k.
- As predicted, rates went through ANOTHER increase as we entered into Xmas territory. The TS Avg LH rates rose to $3.07/mi.
- With traditional seasonality, we should have seen rejections spike for the holiday. We have yet to see those increases, which brings another twist to the 2020 market dance.
What To Expect This Week
- We still expect it to be a wild next couple weeks prior to the holidays and EOY. However, rejections continue to decrease, but still remain at strong levels. National rejects sit comfortably at over 24%.
- The story won’t be about volumes for the next couple weeks. It will be all about supply. Capacity is limited compared to freight volumes and rates continue to increase as carriers have their selection of freight and as L/T ratios remain high.
- Winter storm Gail is expected to be the “biggest snowstorm to hit the Northeast” and bring heavy snowfall through the end of the week. Look for this to cause delays and strain capacity moving in and out of Newark and destinations off I-95.
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