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 25 – APRIL 29)
We see Fuel is steady, increasing at 5 cents from last week. However, it’s still up over 2 dollars from last year. Right now, we see the average is $5 and 16 cents. Rejections have hit under 9.5 percent and we predict a possible slow down to rejections decreasing. We are seeing some impacts of produce season due to some southeast markets showing increases in tender rejections. Surprisingly, we are seeing Reefer rejections continue to decrease. Currently, van rates are $2 and 94 cents per mile . Down 24% from a year ago at $3 and 83 cents. Volumes have dropped around 15% from the beginning of the year.
WHAT TO EXPECT THIS WEEK (May 2 – May 6)
Our wild cards to look out for are produce season, DOT week, and kicking off the summer surge. As van and reefer soften, we expect flatbed demand to remain strong as we enter the thick of the construction season.