Weekly Freight Market Update: Winter’s Last Stand

While the calendar says it’s technically spring, winter weather caused some freight frustration this week – and will continue to do so throughout the weekend.

A heavy snowstorm and high wind advisory is expected to hit the Donner Pass in California through the end of the week. All operating motor vehicles will be required to chain up. Shippers need to be on the lookout for potential road closures as the storm hits mid-week. Carriers have looked northeast to the Salt Lake City and Denver markets as volume has continued to pick up throughout the month.

Outbound volume has increased in the American West

Outbound volume in Denver has increased roughly 28% since the start of March, and outbound volume in Salt Lake City, Utah has increased roughly 10% week over week, indicating to carriers that they should not shy away from the historically dead backhaul markets.

Looking out across the country, volumes have remained steady over the last week. National tender rejection rates fell 4.6% week over week, and have remained below 7%.

Capacity surplus have decreased tender rejection rates

With the end of the quarter upon us, some shippers are making a push to move shipments out to customers, but most markets still have a capacity surplus which has moved volatile tender rejection rates down this week to under 6%.

With the last day of the quarter falling on a Sunday, there is a high likelihood of higher than normal weekend volume. Since capacity remains strong across most of the country, carriers should take advantage of the end of quarter volume by keeping trucks rolling through the weekend.

Stay on top of the trends impacting your lanes.

See a detailed breakdown of trends in your region with the Convoy Shipper Platform. The Market Outlook curates a view of freight impacts and trends by region to give you a full picture of the market. It’s free to access, simply sign in or register now.

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Convoy Team
Convoy is the nation's leading digital freight network. We move thousands of truckloads around the country each day through our optimized, connected network of carriers, saving money for shippers, increasing earnings for drivers, and eliminating carbon waste for our planet. We use technology and data to solve problems of waste and inefficiency in the $800B trucking industry, which generates over 87 million metric tons of wasted CO2 emissions from empty trucks. Fortune 500 shippers like Anheuser-Busch, P&G, Niagara, and Unilever trust Convoy to lower costs, increase logistics efficiency, and achieve environmental sustainability targets.