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.
August 2022 Freight Industry Trends
Dry Van
- Rates: Van spot rates were down 0.7% over July’s numbers, and down 8.1% overall since 2021. Rates have gone from $2.64 in July to $2.53 in August.
- Capacity: The load-to-truck capacity was up 2.6% and down 45.2% since last year.
Flatbed
- Rates: Spot rates decreased 1.6% since July and was down 0.4% overall since last year. Rates were $3.06 compared to last month’s $3.30.
- Capacity: Load-to-truck capacity was down 5.6% and down 68.0% since last year.
Reefer
- Rates: Spot rates were down 0.7% and down an overall 7.9% since 2021. Rates decreased from $3.00 in July to $2.89 in August.
- Capacity: Load-to-truck capacity was down 4.6% and down 52.5% overall since last year.
Looking Ahead to September:
- Fuel is steadily increasing and has increased by 4.1% to an average of $5.12/gallon compared to $4.99/gallon last month. It is expected to decrease as we enter September.
- Van spot rates are expected to decrease from $2.53 to $2.47.
- Flatbed spot rates are also expected to drop from $3.06 to $2.94.
- Reefer spot rates are expected to drop from $2.89 to $2.85.
2022 Recap
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.
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.