I did not go anywhere this week yet due to lousy rates I was offered, and most likely will stay home for the rest of it. I'd rather spend time with Misses Spring and watch my lawn becoming perfectly green rather than deal with what's out there.
However....
Used truck salesmen are finely complaining about it being slow. The load boards still show nothing good, very few posted rates are even close to 2 dol a mile - and that's less than 500 miles runs. Still 4 -6 months ago anything lower than 3 dol per mile was scorn at. More importantly, drivers in Chicago area started switching companies as a result of reduced pay or their employers going out of business. I was told 7-10 c per mile cuts.
One should hope that these are the signs of the spot market pendulum reaching the highest point on its backward swing. On the other hand, it could be argued that there is still a long way before it gets there.
Sooner or later, a contract freight will have been affected too and only after that the pendulum will swing back in our favour.
Low rates
Discussion in 'Ask An Owner Operator' started by 4Cs Freight, Jan 30, 2019.
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1. Trade Tariffs means imports are down, especially on the west coast.
2. Mega Carriers overextended themselves are hired way more drivers than the market demands.
3. Floods in the Midwest.
4. Slow Growth in the economy that caused many warehouses to overextend themselves too.
Massive corporate tax breaks changed the game. I think this slowdown will continue throughout the year until the market corrects itself and weeds out the weak and the unprepared. Be careful out there.Last edited: Apr 25, 2019
kenn2632 Thanks this. -
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Reefer freight is being affected too. It's "busy" season for produce in Arizona and I'm still booking freight at $1.50 per mile. It will go up come memorial day, but anyone thinking rates will look anything like the summer of 2018 is kidding himself.
kenn2632 and Socal Xpress Thank this. -
Worth a read, pretty consistent graph.
Coyote calls for year-long slide in contract rates, but 2020 will tighten up | FreightWavesHumblepie Thanks this. -
$1.6s flatbed freight is an insult.
Brokers have no problem with it.
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