Weekly Market Recap: Feb 1 – Feb 7

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

  • Winter weather was THE challenge throughout the week as snow came and went across the Midwest and Northeast
  • Due to this weather, rejections continued their upward trend even as volume remained flat. But remember, while flat for 2021, volumes are still 40% higher than this time last year
  • Nation Rejections increased over 22. To  22.90%. As weather delays and deminishes capacity more tenders will be sent to the spot market for last minute coverage

What To Expect This Week

  • Less snow, more cold and ice. Capacity will struggle as less trucks hit the road. Ice in middle band of the country will also influence capacity as cold weather hits states not familiar with such temps 
  • RFR capacity will decrease as more shippers push for freeze protection. 
  • While shippers will have freeze protection on their minds, we also have our eyes on the sunny Port of LA where volume still remains almost 70% higher than last year. How long can the ports sustain this volume?

Stay Up to Date

With all the latest weekly and monthly market insights on our Youtube page. Questions about anything you saw? Email sales@loadsmart.com and let’s talk about how we can help you take advantage of real-time market conditions.

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