Weekly Market Recap: March 8 – March 14

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

• Markets were riding high as volume and rejections balanced out, but trucks remained scarce as shippers and brokers fought over capacity. 

• Just because freight volumes remain flat doesn’t mean we are approaching normalcy: volumes still continue at levels that are almost 20% higher than last year at this time. 

• For context, last year at this time we were in the midst of the initial pandemic panic boom

What To Expect This Week

• Shippers will be dealing with the fallout of severe storms that punished the southeast with 15 tornados touching down in Alabama. Capacity will be tight going through these areas
• Overall rates took a step back:
  • TS AVG LH decreased to $3.24 for dry van
  • TS AVG RFR decreased to $3.73
• These minor changes indicate that rates may have found a plateau and will continue to balance out over the next few weeks.

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.