Happy Wednesday and welcome to the mid-week edition of Where’s the Freight?,” Trucker Tools’ free market report for owner operators and carriers. Over the last week, fuel prices and national average volumes/rates that measure truckload demand have declined, but most experts don’t expect those declines to last long. The Russian oil embargo and springtime construction and produce surges likely will bring both back up very soon.
In today’s “Where’s the Freight?,” you’ll notice that the Springfield, Mass., power only market is projected to the be the highest demand market in the United States and Canada over the next five to seven days. This week, you also can expect dry van demand and rates to/from Gary, Ind., to increase, while Dodge City, Kan., will remain a hot market for reefer loads. In the coming week, look for flatbed demand for Ithaca, N.Y., and Fort Smith, Ark., to increase, as well.
Read on to learn more about which markets will be hot and cold this week in this Wednesday edition of “Where’s the Freight?”
Where Freight Demand and Rates Are Likely To Be High or Rising
- Flatbed demand and rates for Ithaca, N.Y., are likely to remain elevated over the next five to seven days. Flatbed demand for Ithaca, N.Y., and Fort Smith, Ark., is projected to increase in the coming week.
- Reefer demand and rates inbound to and outbound from Dodge City, Kan., Texarkana, Texas, and Edmonton, Alberta, will be relatively high this week.
- Power only demand and rates for Springfield, Mass., are expected to be high over the next week. You also can expect to see power only demand increase for Grand Rapids, Mich., and Saint Cloud, Minn.
- Dry van demand and rates for Gary, Ind., likely will rise in the coming week.
Where Freight Demand and Rates Are Likely To Be Low or Falling
- Flatbed demand and rates for Brooklyn, N.Y., El Paso, Texas, and Rochester, N.Y., will be extremely low over the next five to seven day period. Demand for flatbed capacity for Vancouver, British Columbia, is expected to decline in the coming week.
- Reefer demand and rates inbound to and outbound from Southwestern Ontario, and Billings, Mont., are likely to be low this week.
- Power only demand and rates inbound to and outbound from El Paso, Texas, are projected to decrease over the next five to seven days.
Trucker Tools’ Market Insights and Industry News
- The five most profitable markets for owner operators and carriers this week likely will be: 1. Springfield, Mass. (power only), 2. Dodge City, Kan. (reefer), 3. Texarkana, Texas (reefer), 4. Ithaca, N.Y. (flatbed), and 5. Edmonton, Alberta (reefer).
- The five least profitable markets for owner operators and carriers this week likely will be: 1. Brooklyn, N.Y. (flatbed), 2. Southwestern Ontario (reefer), 3. El Paso, Texas (flatbed), 4. Billings, Mont. (reefer), and 5. Rochester, N.Y. (flatbed).
- The Springfield, Mass., market will see high demand for power only capacity this week, with demand expected to be three times higher than it was during the same week in 2021.
- Shippers’ inventory levels in February showed record growth, which may be contributing to the current dip in truckload demand.
- The Gary, Ind., dry van market will favor fleets and owner ops by more than two to one this week, meaning there should be at least two loads available to every dry van trailer headed into and out of the area.
- The national average price of diesel fuel finally dropped at the end of last week, ending a 10-week price surge.
For even more market insights, read the Monday edition of our free freight forecast, “Where’s the Freight? Dodge City, Ithaca, Texarkana and Tucson Projected as Highest Demand Markets This Week.”
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