Trucking Industry Update: Mixed Signals in Latest Data

The freight markets is showing signs of slow recovery, but challenges still persist. Let's break the numbers down:

Tonnage Ticks Up

• ATA Tonnage Index rose 0.3% in July

• Slight improvement, but market remains sluggish

“While July wasn’t a strong month, we see continued evidence that the truck freight market is likely turning a corner, albeit slowly,” ATA Chief Economist Bob Costello said in a monthly report.

Load-to-Truck Ratios: A Mixed Bag

• Dry van: Steady at 3.8 loads per truck (LPT)

• Reefer: Dipped to 6.1 from 6.2 LPT

• Flatbed: Jumped to 10.7 from 9.2 LPT

“Compared to Week 33 in 2019 (pre-pandemic conditions), load posts were up 9% and truck posts were down 17%,” DAT said in a statement.

Spot Rates Under Pressure

• Dry van: Down 1¢ to $1.62

• Reefer: Flat at $1.97

• Flatbed: Dropped 2¢ to $1.97

"Flatbed load post volumes reversed course and rose 8%," notes DAT's Dean Croke.

Trailer Orders Hit the Brakes

• June orders plummeted 17% to 4,788 units

• Year-over-year increase of 44%, but still near record lows

Class 8 Trucks: Orders Slow Down

• July orders fell to 12,400 units, down 7% from last year

• Below seasonal expectations

“The decline is unsurprising given the strong order performance in the first five months of the year and the typically weak seasonal order period,” FTR said.

The Road Ahead

Trucking's rollercoaster ride continues. While some indicators show improvement, others signal ongoing challenges. Keep an eye on consumer demand, economic factors, and seasonal trends as the industry navigates this turbulent road.

Source: Trucking Dive