But, it sure is making a run for it! Check out the SONAR chart below.
Comparing the largest markets in the U.S. over the past four years we can see a dramatic shift start to occur around Memorial Day 2021.
Dallas is in the purpl’ish, red – I don’t know – the line that isn’t yellow, blue, or green. You can see that Los Angeles (LAX) and Ontario (ONT) do not drop in market share.
However, you can certainly see that full warehouses and slowing imports have shifted the traditional freight origins and lanes.
The SONAR dashboard above has two charts. The chart on the left is a market table filtered for the heaviest headhual freight origins to the lightest.
Dallas is king right now, with Ontario and Atlanta in fifth and eighth places respectively.
They have been replaced.
At least for the moment.
The right side chart displays rejections and volumes of dry van load tenders over the past week. This gives you insight into the direction of the markets. Deeper blue and higher elevations mean tighter markets and more loads.
Keep in mind that the map is showing weekly change to give you a sense of short-term trends in the freight markets.
Central Texas is heating up with Houston leading the way.
Taking a quick look at the fuel and rate comparisons the SONAR chart above is showing:
Retail Diesel price: Blue
Wholesale Diesel price: Orange
Contract TL rates: Purple
Spot TL rates: Yellow.
Bad news for spot carriers as rates are still depressed. However, the cost of diesel fuel is coming down a bit.
The large contract fleets are still going strong and in spite of dropping diesel prices, the spread between retail and wholesale is widening.
Cha! Ching! Cash-ola to the bottom line!
Recession or no recession is an irrelevant argument in the freight markets. We have all seen great economies with horrible freight economies and the reverse.
For some needed perspective, the charts below show you where freight levels were in 2019, 2020, and 2021.
Both Dry Van and Reefer truckload volumes are up over 2019 levels on August 2nd.
However, both are down 27% and 34% from 2020 August 2nd.
We have also seen a drop of 25% and 35% in the last year.
To compare to pre-pandemic levels makes no rational sense when determining the depth of the drop in truckload volumes.
35% lost in a year is significant no matter how you slice it.
Stay safe, stay smart, get paid.
Peace and love.