๐ Weekly Freight Market Update
Hey Everyone ๐, letโs break down this weekโs freight market shifts and what they mean for your owner-operators. Weโre finally seeing some positive movement on the spot market, but the general freight landscape is still tough. Hereโs what you need to know to plan better, negotiate smarter, and avoid bad zones: ๐งญ General Market Overview: - ๐ General freight volume down 1% week-over-week (W-o-W). - ๐ Rejection rates down 5.2% W-o-W โ fewer loads being turned away. - ๐ Spot market volumes up 8.7% and rates up 5ยข per mile on average! - ๐ข Diesel: National average is $3.61/gal, up slightly this week. Avoid refueling on the West Coast and Northeast โ still the priciest zones. ๐ Dry Van Breakdown: - ๐ Spot rates up 3ยข this week; average is now $1.84/mi. - ๐ผ Volumes up 7% W-o-W, but still 2% lower than last year. - ๐ Best freight zones: Texas, Georgia, and the Midwest. - โ Avoid: Northeast, Plain States, Florida โ overcapacity and weak rates. - ๐ก Tip: Look for clusters of equilibrium or slight under-capacity to give your O/Os more negotiating power. โ๏ธ Reefer Overview: - ๐ Spot rates up 2ยข W-o-W; current average is $2.10/mi. - ๐ผ Volumes up 4.3% W-o-W, but still down 8% YoY. - ๐ Strong zones: Texas, Midwest (MN, MO, IA), parts of PA/IL/GA. - โ Weak zones: Oregon, Washington, Plains โ low load counts. - ๐จ Note: Reefers are harder to reposition out of bad zones. Stick to high-volume markets. ๐ฉ Flatbed Surge: - ๐ Spot rates up 5ยข to $2.50/mi. - ๐ Volumes up nearly 100% W-o-W and 33% YoY โ huge spike. - ๐ Hot zones: South, Midwest, East Coast. - โ Avoid: Plains, Arizona, Northeast โ weak ratios & tough backhauls. - ๐ก Carriers willing to haul tarp/chained/binder loads are getting better rates. ๐ฆ Capacity Watch: - ๐ Net carrier count rose again this week (+203 carriers). This is the 3rd week in a row showing growth. - ๐ค Still unclear why new carriers are entering in a slow-paying market โ possibly prepping for spring/summer surges?