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Truckload Market Update

July 17, 2023 0Articles

Truckload rates continue to remain low, though spot rates appear to have stabilized for now, according to DAT Freight & Analytics. The trucking industry is in the late stages of a freight cycle downturn, but positive destocking trends have helped balance the low demand.¬†While the rate of price erosion and demand decrease have slowed, the industry has not yet reached the bottom. Consumer spending has shifted towards services, indicating a recovery in the service economy. However, expected patterns like produce season have been weaker than anticipated. Analysts believe the industry won’t see significant changes until demand improves, and (potentially) an increase in fleet closures. Despite some positive signs, the rest of the year is not expected to be particularly strong for trucking industry pricing.

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