September 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

September 2024

Takeaways

Downward trends in pricing continue. Van (-5.6%), Reefer (-2.4%), and Flatbed (-3.8%)
Year-over-year values indicate stronger negative values. Van (-6.9%), Reefer (-4.0%), and Flatbed (-5.1%).
Southeast are showing the greatest weakness in Van and Reefer rates at -7% to -10.5% relative to 2024 H1 baselines.

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Outlook

Pricing continues to decline with downward trends across all modes compared to 2H1 baselines: Van (-5.6%), Reefer (-2.4%), and Flatbed (-3.8%) Year-over-year comparisons indicate stronger negative values because stronger prices in September 2023, with Van (-6.9%), Reefer (-4.0%), and Flatbed (-5.1%).

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South and Southeast are showing the greatest weakness in Van and Reefer rates at -7% to -10.5% relative to 2024 H1 baselines.

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The downward trend in these regions is somewhat unexpected, however, given the political and economic uncertainties ahead, they are not too surprising. These results support the common industry outlook of a weak to flat Q4 ahead with optimism returning in 2025.

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