Market Conditions 8/2/15-8/8/15

This week has confirmed the turnaround in the freight market. August's rebound with added shipping demand is in full swing. To summarize the image below from DAT.com, Spot Market loads have increased 3.8% while Spot Market Capacity has dropped 2.7%. Our team has taken note of the increased load densities throughout major hubs in the United States last week. This created a corresponding upward rate shift from the 365day lows seen in week's past. We expect this upward rate trend to continue in the upcoming weeks as the northern state's produce production is high. August is back-to-school month, we anticipate Van rates to rise accordingly as well.

 

 - DAT Trendlines™ http://www.dat.com/resources/trendlines 08/08/15

 

 

Refrigerated Freight 

 

Michigan continues its produce push with load to truck densities of over 12:1 in the western parts of the state. Melons are in high demand in the greater Delaware area as well as the southern regions of Illinois and Indiana. Expect to see the continued slowdown of California produce (pictured below). Steer clear of the Mexican border crossings and the Pacific Northwest as produce is very light.

 

Look for the Upper Midwest markets to continue to tighten in the upcoming weeks as produce gets into full swing. North Carolina is shipping melons and sweet potatoes. Washington apples will be starting in the next few weeks as well.

 

 -United States Department of Agriculture, Agricultural Marketing Service, Market News https://www.marketnews.usda.gov/mnp/ 08/08/15

 

 

Dry Freight

 

Demands have recently climbed in most hubs. This past week we have observed a general increase of load demands throughout most of the U.S. Spot rates have risen marginally especially on Friday when the sitting freight must move for the weekend. Regions of higher freight densities include Virginia, the Carolinas, western Kentucky, the Upper Midwest, the Green Bay Market and the Northeast. Keep in mind while freight densities in the Northeast are higher, rates are not as desirable for outbound freight.

 

 

Diesel Pricing

 

Diesel's downward trend continues for the tenth consecutive week. Another 5.5 cent drop brings the national average price to $2.668 per gallon. This marks a $1.185 drop for the same week last year.

 

 -U.S. Energy Information Administration, Independent Statistics & Analysis http://www.eia.gov/petroleum/gasdiesel/ 08/08/15

 

 

Import/Domestic Demand

 

 -United States Department of Agriculture, Agricultural Marketing Service, Market News https://www.marketnews.usda.gov/mnp/ 08/08/15

 

 

 

 

 

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