Did we just have an Easter Bunny sighting in the freight markets?
The SONAR dashboard is showing a chart on the right with tender rejections compared to truckload volumes. Rejections have fallen to 9.72% while volumes have climbed. This tells you that capacity is still very loose for this level of demand.
Tender rejections dipped along with truckload volumes during Easter week. This is not particularly strange as we descend from the dizzying highs of the pandemic freight markets; nor is this movement strange during a normal seasonal holiday market.
What is intriguing is the bounce upward of truckload volumes post-Easter. This too is not strange in normal seasonal movements. However, this is not a normal season and we are looking for signs of where the truckload volumes will settle.
Is this the floor?
It is too early to call and there are many factors and market dynamics playing out from Shanghai to the Consumer Price Index to the diesel fuel island at the truck stop.
Keeping an eye on the daily market changes across the country is going to be very important for all involved in the freight game.
The charts to the right will give you great visuals and quick information to find loads and avoid dropped service if you’re a shipper.
The table is showing you the markets with the largest gains in truckload volumes. The map below is showing the same in a different visual.
Here is a LINK for all you SONAR users.
Read more articles from Michael “The Dude” Vincent
Peace and Love!