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 (MAR 14 – MAR 18)
We see the current market trend is similar to 2018’s market softening in the beginning of the year. Volumes have softened a bit, sitting at the 14,000, down from 15,000 in mid February. Tender rejections continue to fall almost 2 full points from 18.19 to 16.56. Diesel fuel was up 40 cents from the week prior however, we are still seeing rates fall.
WHAT TO EXPECT THIS WEEK (MAR 21 – MAR 25)
End of the month means end of Q1. As we dive into Q2 & Q3, we expect increased volumes and tighter capacity, leading to higher rates. We continue to expect a demand-driven cycle normalization in 2022. What happens in the next 4 weeks with produce season/improving seasonality will give us a good insight on what to expect for the rest of the year.
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