Land Line: DAT: Freight headed back to normal
The freight market is expected to get back into a more normal rhythm. We’ll have the latest details from Robert Rouse of DAT in today’s Market Update
The freight market is expected to get back into a more normal rhythm. We’ll have the latest details from Robert Rouse of DAT in today’s Market Update
When mortgage rates began rising, flatbed carriers recognized it wouldn’t take long for demand in shipments of building materials for new home construction to weaken.
The rates shippers pay for spot dry-van truckload capacity continued to drop in March, falling $0.05 per mile from February to $2.36 per mile on average, according to an analysis of data provided by Cargo Chief, DAT Freight & Analytics, Loadsmart, and shippers and brokers surveyed by the Journal of Commerce.
Tens of thousands of small trucking companies have left the US freight market over the past year, but that has largely been offset by companies that have entered the market, and that is keeping pressure on pricing, according to Dean Croke, principal analyst at DAT Freight & Analytics.
Chad Kennedy, Group Product Manager for DAT Freight & Analytics, provided an overview of various issues and themes his compamy addresses for its customers on a daily basis, including: the keys to sound RFP management; current market trends and dynamics; and what steps shippers can take to tighten up costs or secure reliable capacity before the market turns again, among others.
A slight increase in hay acreage and yield-boosting moisture conditions in some regions provide hope for increased forage production in 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.
Excess capacity in the spot market amid weakening demand has raised uncertainty over whether rates have actually hit bottom.
Amid high diesel prices and historic inflation, experts with load board operator Truckstop offer advice on how to negotiate the best rates from brokers at 2023's Mid-America Trucking Show.
Education has become an important and growing part of the Mid-America Trucking Show. As part of that, OOIDA brought a section of its Truck to Success course covering brokers, led by Gary Wright of OOIDA’s Business Services Department.