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 (APRIL 11 – APRIL 15)
Right now we are seeing volumes decreasing, sitting at 12,675. There is less freight in the market and an abundance of capacity. Rejections are at 11.5 – down almost 50% from the beginning of February. We are predicting this will remain the same while rates and volume will continue to go down. Last week we saw a 3.3 percent drop or a $0.09 per mile decline for national rpms – this was the largest rate drop we’ve seen since the week of March 14th. This decline marks the 8th straight week of rate decreases in 2022 and we don’t see a sign of this slowing down just yet.
WHAT TO EXPECT THIS WEEK (APRIL 18 – APRIL 22)
Rates continue to fall. Rejections continue to decrease. However, we still are on the lookout as produce season and the summer surge starts to kick in. Unlike the DRV & RFR extreme softening we’re seeing, the Flatbed market has held strong given the continued capacity disruption and strong demand in this market.
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