Although we are seeing capacity loosen some as we near February (+8.3% week over week), overall truckload capacity tightness has extended into late January. Two unusual circumstances this month:
1. The ELD mandate became required in mid-December, and many drivers were either unprepared or uncooperative.
2. The gift card effect has become more prevalent for retailers – extending holiday shopping into the new year.
We expect rates to press higher as bid season progresses and contract rates are renegotiated.
Spot Market Trends
Historic Per Mile Spot Market Rates