There are encouraging signs that demand is returning to the U.S. trucking market, based on high-frequency truckload volume data from FreightWaves SONAR.
A FreightWaves webinar featuring CEO Craig Fuller looked at the current state of the freight market.
Outbound demand in Harrisburg and Allentown, Pennsylvania, bottomed out at the start of the month and are starting to slowly rise. Dallas and Fort Worth, Texas, both are seeing rejection rates drop to a two-year low.
FreightWaves SONAR recently released two new market analysis tools that provide lane-level rate benchmarking capabilities and insight into the future state of the domestic truckload spot market.
Atlanta still owns the most market share by outbound volume but saw a drop in its value as demand falls further. Imports to the Port of New York and New Jersey fell to their lowest levels since 2021, bringing surface transportation volumes down with them.
Contracted tender volumes in Ontario, California, remain at their lowest levels since 2020, and markets in Illinois are struggling to recover from drops this month.
Markets along the East Coast in the path of Tropical Depression Nicole are seeing relatively normal fluctuations in rejections in volume compared to previous severe storms.
Dry van volume dropped significantly this month leading into the holidays, but reefer demand remains strong. Diesel price per gallon grows slowly, but the spread between wholesale and retail prices rises.
Markets across the board have been seeing drops in both inbound and outbound volume since the start of the month.
Outbound volumes from Atlanta are picking back up after hitting their lowest levels since 2020, and imports to the Port of New York and New Jersey drop, dragging truckload volumes with them.
