This is a bi-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 Chloe Cas, breaks down what happened last week and what to expect this week in the freight market in less than 2 minutes.
WHAT HAPPENED LAST WEEK (Feb 14 – Feb 18)
In early February we saw tender rejections fall to the lowest levels since early December. The last time they were this low was July 2020. This indicates that elevated contract rates are showing improvements in commitments. Rates remain strong, however, the seasonal February market remains soft. Last minute winter weather caused some challenges toward the end of the week.
WHAT TO EXPECT THIS WEEK (Feb 21- Feb 25)
We predict capacity limitations with last week’s storms. Falling rejections will continue to put a downward pressure on rates. Carriers, make sure to lock in your rates with contracts! The wild card to lookout for is the weather.