Weekly Freight Market Update: How Low Can Tender Rejection Rates Go?
Industry Insights, Shippers • Published on April 13, 2019
Capacity continues to be abundant across the nation. National tender rejection rates hit a 12-month low on Tuesday, April 9 — reaching 4.85%.
Jump in Tender Rejection Rates
However, on Wednesday, April 10, tender rejection rates jumped 13.2% — the largest single-day increase of the year so far — to 5.5%. It’s possible that tender rejection rates have hit a floor.
With a few false starts, signs of spring have been slow to bloom this year. National volumes are similar to this time last year and have decreased week over week.
Egg Production Market Stabilizing Its Tender Rejections
With Easter approaching on April 21, candy and egg transportation is having an impact in some local markets. In Grand Rapids, Michigan, egg production continues to tie up freight capacity as rejection rates remain around 10.5%, a significant increase from the remainder of the region.
Stay on top of the trends impacting your lanes
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