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Truckload contract rates* trended upwards to -11.1% Y/Y, up from -13.9% in Q2 2023. Typically contract rates will lag spot rate activity by two or three quarters, but the turn happened faster in this cycle, only lagging by one quarter.
14 lis 2023 · figure 1: truckload spot rates compared to van contract rates (chart: freightwaves sonar, national truckload index {linehaul only} {white} with van contract — initial reporting of average base rate per mile {purple} and van contract — final reporting of average base rate per mile {blue} late-2019 to present)
Truckload contract rates* trended upwards to -5.3%, up from -7.3% Y/Y in Q4 2023. Typically contract rates will lag spot rate activity by two to three quarters, but the turn happened faster in this cycle, lagging by only one quarter.
Q2 2023 Truckload Market Recap. After seven straight quarters of rate deceleration, we finally hit the turning point. While rates are still well into year-over-year deflation, the index is on the way up (with a little help from DOT Week and Memorial Day shipping bumps).
6 sie 2023 · Overall, rate movements have aligned with the first forecast we released in October 2022 and the update published in Q1. Rates trended closer to the downside range of the forecast in Q2 due to persistently soft spot market demand and stubbornly sticky truckload capacity.
7 kwi 2023 · Overall, rate movements have aligned with the forecast we released in October 2022. Although the market experienced more volatility than expected during the 2022 holiday season and early January 2023, conditions have fallen in line with where we projected they would be late in Q1 2023.
1 gru 2022 · Normalizing freight markets and moderating economic activity will weigh on truckload performance in 2023. Rate discipline will be key to mitigate the impact from inflation, especially for...
