Your Monthly Industry Recap

Stay up to date on industry trends and forecasts in shipping and logistics.

Each month our trucking industry experts gather the top industry trends you should watch for. Bookmark this page and check back for up-to-date information, monthly recaps and trucking industry news. 

July 2022 Freight Industry Trends

Dry Van

  • Rates: Van spot rates were down 1.5% over June’s numbers, and down 2.8% overall since 2021. Rates have gone from $2.68 in June to $2.66 in July.
  • Capacity: The load-to-truck capacity was down 0.8% and down 33.8% since last year. July spot rates were $3.84 compared to June’s $3.88.

Flatbed

  • Rates: Spot rates decreased 4.2% since June but was up 6.2% overall since last year. Rates were $3.30 compared to last month’s $3.45.
  • Capacity: Load-to-truck capacity was down 41.9% and down 50.9% since last year. That’s a decrease from a ratio of 37.55 in June to 21.8 in July.

Reefer

  • Rates: Spot rates were down 1.3% and down an overall 4.0% since 2021. Rates decreased from $3.04 in June to $3.00.
  • Capacity: Load-to-truck capacity was up 3.0% but down 42.3% overall since last year. Rates rose from $7.03 in June to $7.24 in July.

Looking Ahead to August:

  • Fuel rates are expected to continue to drop next month with an average price of around $4.99/gallon.
  • Load-to-truck ratios are on a downward trajectory for all trailer types.
  • Spot rates for vans are expected to drop to around $2.59 from $2.64.
  • Flatbed spot rates are predicted to drop from $3.30 to $3.16.
  • Spot rates for reefers are on a downward trajectory from $3.00 to $2.94.

2022 Recap 

June 2022 Freight Industry Trends

Dry Van

  • Rates: Van spot rates were up 0.3% over May numbers, and up 0.5% over 2021 rates. June spot rates are at $2.68 which is $0.03 less than May.
  • Capacity: The load-to-truck ratio for vans was down 11.6% from last month and down 30.2% since 2021. The truck-to-load ratio was 3.88 for June.

Flatbed

  • Rates: Flatbed spot rates were down 0.1% over May month, and up 9.5% overall since 2021. Spot rates are holding relatively steady at around $3.45 since May.
  • Capacity: Load-to-truck capacity was down 0.1% but up 9.5% overall since 2011. The truck-to-load ratio was 37.55 for June.

Reefer

  • Rates: Reefer rates dropped 1% compared to May and remain down 1.6% overall since 2021. Rates dropped slightly from $3.07 to $3.04, a decrease of $0.03 since May. Reefer linehaul rates are at $0.26/mile higher than that average pre-pandemic 2020.
  • Capacity: Load-to-truck was down 6.7% and down overall 39.3% since 2021. June’s truck-to-load ratio was 7.03.

May 2022 Freight Industry Trends

Dry Van

  • Rates: Van spot rates were at an average of $2.71 which is $0.09 less than April.
  • Capacity: Load-to-truck ratio was 4.39 for the month.

Flatbed

  • Rates: Spot rates were up $0.04 from April’s rate of $3.41.
  • Capacity: Load-to-truck ratio was 63.33 for the month.

Reefer

  • Rates: There was a decrease of $0.08 from $3.15 in April to $3.07 in May.
  • Capacity: Load-to-truck ratio was 7.54 for the month.

April 2022 Freight Industry Trends

Dry Van

  • Rates: Van spot rates were down by more than 7% over March numbers, but still up 8% over 2021 rates.
  • Capacity: The load-to-truck ratio for vans was down by another 25% from last month, continuing the trend.

Flatbed

  • Rates: Flatbed spot rates were up by 0.4% over last month, much lower than anticipated.
  • Capacity: Capacity is beginning to ease a bit in the flatbed market, but will likely pick back up with warmer weather.

Reefer

  • Rates: Reefer rates dropped by 7.4% in April compared to March, but still up by almost 8% over 2021 rates.
  • Capacity: Load-to-truck is down by 25%, following the predictions of reefer capacity cooling with moderate weather.

March 2022 Freight Industry Trends

Dry Van

  • Rates: Van spot rates were surprisingly down 2% over February rates, but still up 14% compared to March 2021.
  • Capacity: The load-to-truck ratio for vans was down almost 40% over February numbers, and down from last year's ratio as well, which means capacity is easing across the industry.

Flatbed

  • Rates: Flatbed rates rose 7% over February rates and are still steadily increasing over 2021 numbers.
  • Capacity: Capacity is still tight across flatbeds and will likely continue increasing through the spring and summer months.

Reefer

  • Rates: Reefer rates decreased roughly 3% over February rates, but are still higher than March 2021 numbers by more than 15%.
  • Capacity: As predicted due to mild weather, capacity eased significantly from last month and last year during the same time, lowering over 38%.

February 2022 Freight Industry Trends

Dry Van

  • Rates: Van spot rates stayed surprisingly stable this month over last. However, rates were up 28.7% over February 2021, consistent with market trends.
  • Capacity: Dry van capacity is beginning to ease week over week, offering slight relief for shippers.

Flatbed

  • Rates: Flatbed rates rose 1.6% over January rates and 23.8% over February of last year.
  • Capacity: As demand keeps rising for flatbeds, capacity has tightened the most for this mode compared to vans and reefers.

Reefer

  • Rates: As milder weather begins around the country, reefer rates actually fell by 1.9% compared to January, but were up 30.8% over February 2021.
  • Capacity: Despite capacity still remaining tight overall, reefer capacity has started to ease over the last couple of weeks.

January 2022 Freight Industry Trends

Dry Van

  • Rates: Dry van rates were significantly elevated in January with a 32% increase over January 2021, and a 4% increase over December 2021.
  • Capacity: While capacity has not changed much, demand continues to rise with overall freight levels increasing nationwide.

Flatbed

  • Rates: The flatbed market is the most volatile of the modes. Rates were up roughly 25% over last year with huge swings throughout the month, ranging by week and shipping market.
  • Capacity: Demand for flatbeds continues to rise each month with elevated freight levels.

Reefer

  • Rates: This month, reefer rates were up about 4% over last month and up 38% over January 2021.
  • Capacity: Reefer demand remains the tightest mode for our network and beyond.

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