Weekly Freight Market Update: Quarter End Scramble | Convoy
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Weekly Freight Market Update: Quarter End Scramble

Spring continues to thaw the national freight network, as volumes have slowly increased with the addition of some produce, a small uptick in port activity, and few flatbed loads in the Southeast.

However, with all the new trucks purchased in 2018 – 490,100 units, according to ACT Research – payments need to be made, and  capacity remains loose.

Rejection rates are still under 7% nationwide, and rates remain low. DAT Trendlines data shows of the top lane rates in the country, half are up slightly, about 10% are flat and the remaining 40% are down for a net change of just over +1% in the overall market rates.

End Of The First Quarter

Next week brings with it end-of-quarter-volume, and the market will be watching closely to see how the network reacts. Shippers will be scrambling to get freight delivered before the end of the week, and with the first of April falling on a Monday, there is a high likelihood of a higher volume weekend than normal.

Shippers should plan ahead and tender loads as early in the week as possible, while carriers would do well keep trucks rolling through the weekend, taking advantage of the extra revenue opportunities.

Be sure you’re ready for the conditions in your market. 

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Damien Hutchins is Senior Manager of Convoy's brokerage team, when he's not writing on the state of the freight market. He has held previous roles at tech startups in various industries over the past 15 years and focuses now on logistics and trucking from his hometown of Seattle. In his free time Damien can be found exploring in the Cascade Mountains, or taking long weekend road trips on his adventure motorcycle.