Memorial Day led to tighter capacity and higher spot market rates as we saw many independent carriers go home for the 3-day-weekend. Flatbed rates rose to another record high while reefer rates are up 2¢ per mile. We're seeing especially tight reefer capacity coupled with high rates coming out of the South and Southeast due to a booming produce season.
Spot Market Trends
Outbound Tender Reject Index
The graph below shows contracted rates being rejected out of a specified market. Due to the peak produce season, contracted rates are being rejected at a high rate out of Tallahassee, Florida (white line). As the produce boom moves north through Georgia, we can see more rates being rejected out of Atlanta (green line) as rejections subside further south in Miami (orange line).