Updated

Updated · Land Line Media · Jul 22

OOIDA Says Spot Rates Beat 3-Year Average for 8 Months as Tight Capacity Masks Weak Freight

Updated

Updated · Land Line Media · Jul 22

OOIDA Says Spot Rates Beat 3-Year Average for 8 Months as Tight Capacity Masks Weak Freight

1 articles · Updated · Land Line Media · Jul 22

Spot truckload rates stayed above their three-year moving average for an eighth straight month, but OOIDA said the upcycle is being driven mainly by tighter capacity rather than a broad freight rebound.
Wholesale trade and manufacturing improved more than expected, with van demand strongest in the South Central and Southeast, while reefer demand rose in most regions and flatbed demand fell in five of six.
June freight volumes still looked soft: the Cass Shipment Index fell and the Truckload Linehaul Index declined for the second time in 11 months, with inflation and a thin U.S. savings rate delaying recovery.
Fuel costs and Strait of Hormuz risks could add diesel pressure, while OOIDA warned the freight outlook also depends on continued AI-related capital spending rather than durable end-demand growth.

Sources

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