In the ever-evolving landscape of the trucking industry, staying informed about the latest trends and market shifts is crucial for success. Our latest update from Trucking Made Successful brings insights into the recent changes in truck capacity, rejection rates, diesel pricing, spot market volumes, and more. Let’s dive into the key highlights to help you chart your course in the freight market.
Carrier Numbers and Rejection Rates
The trucking community faced another setback as 360 carrier nets were lost, maintaining a stagnant carrier count since the beginning. Despite a historically low rejection rate at 3.76%, there’s a slight uptick of 3.73% from the previous week. While this rate is lower than the last five years, the recent increase warrants attention.
Diesel Pricing and Regional Trends
Diesel prices experienced a decline from $4.19 to $4.10 per gallon this week. The map indicates unfavorable refueling conditions on the West Coast and the Northeast. Truckers should plan strategically to optimize fuel costs and efficiency.
Spot Market Volumes
Dry Van trailer volume has declined, while Reefers, designed for temperature-sensitive cargo, and Flatbeds, commonly used for oversized or unconventional loads, also experienced decreases in spot market volume. 📉
This indicates a fluid and changing landscape in the spot market, with adjustments in demand and supply for different trailer types.
Spot rates reflect fluctuations as well:
Reefers: Drop from $2.25 per mile
Flatbeds: No change, maintaining a steady five-year pattern
Notable volume increases were observed in New Mexico, Arkansas, parts of Memphis, TN, Wisconsin, Maine, and Upstate New York. Conversely, decreases occurred in Idaho, Pendleton Oregon, North Dakota, Illinois, and Vermont.
The rejection landscape experienced significant changes, with notable decreases in the Pacific Northwest, Tennessee, Kentucky, Missouri, California, Virginia, and Iowa. Conversely, increases were observed in Arkansas, parts of Houston Texas, Atlanta, Georgia, South Carolina, Connecticut, Upstate New York, Pittsburgh, Nevada, Utah, and parts of Wyoming.
Head Haul Maps
Analyzing head haul maps is crucial for understanding market conditions. Blue indicates more loads than trucks, while red signals overcapacity. The data reveals varying patterns across different trailer types: Dry Vans, Reefers, and Flatbeds.
Where to Go – Strategic Insights
To navigate the freight market successfully, matching areas with dark blue on both rejection and volume maps is key. Specific insights for different trailer types include:
Market Trajectory and Considerations
As the market trajectory reveals increased truck presence and rising rejection rates, Reefers faces challenges due to overcapacity. Trucking Made Successful notes disappointment in Reefers’ performance, leading to their decision to cease operating in this segment.
In conclusion, staying abreast of market dynamics is pivotal for making informed decisions in the trucking industry. Analyzing rejection rates, regional trends, and volume volatility will empower truckers to navigate the complexities of the freight market successfully. As the year comes to a close, strategic planning based on these insights becomes even more critical. Safe and prosperous hauling!
Trucking Update December 14: Still A Trucking Bloodbath, Still Bouncing At The Bottom
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Dominik was a German exchange student in high school before graduating from the University of Washington in Business Administration – Information Systems and Retail Management. His insurance career started in 2008 when he decided leave his retail management career behind to start his own business. His American Family Insurance agency quickly grew to service 700 clients and families. While the idea of becoming an independent broker started in 2010, a horrific car accident put that plan on hold. In 2014, Dominik and his wife Michele changed from a captive agency to become the independent agency that you see today.
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