March 2024

Market Trends

National Carrier Spot Rate YoY Market Trends

Regional Carrier Spot Rate Market Trends to 23H2 Baseline

Regional Carrier Spot Rate YoY Market Trends

Regional Carrier Spot Rate Market Trends to 24H1 Baseline

Regional Carrier Spot Rate YoY Market Trends

March 2024

Takeaways

The first quarter of 2024 is finally over,widely considered in the trucking markets as the last down period before thenext recovery.
March Carrier Spot Rate trends showing Dry(-3.2%) and Reefer (-3.9%) on downward trajectory compared to 2023H2 nationalbaselines. Midwest and Southwest markets are leading this trend for Vanand Reefer.
Flatbed showing better signs of recovery at +2.1%compared to 2023H2 national baselines. With the Southeast showing greatest inflationary increases at +4.5%.

Outlook

Second quarter of 2024 will likely set the stage for the rest of the year. As supply continues to edge closer to equilibrium with stable economic demand, VAN and REEFER rates should stabilize and perhaps show signs of inflation as we near mid-year. If second quarter continues the current downward rate trajectory, it will likely be a long 2024 for trucking. Provided by Matthew Harding.