Spot market freight slowed during the week ending July 10 with freight availability down 35 percent and truck capacity off 20 percent primarily due to Independence Day and the long holiday weekend.
June spot market freight activity also declined compared to May, as flatbed demand and rates retreated from record highs. Although June is typically a peak month for spot freight, April's record-setting performance made it the strongest month in the first half of this year.
Despite the atypical pattern, the second quarter saw a 62-percent increase in load postings compared to Q1. Reefers are still constrained and reefer rates heated up in June but may cool in July. Dry van rates have been trending sharply upward since January on the spot market and are increasing moderately for contract freight.
