Hurricane Francine does nothing to help freight market

Sep 20, 2024 at 09:11 AM CST
The freight market came out of Labor Day with a flourish of volumes. Tender volumes reached the highest level of the year but have since started to retreat. Even so, tender volumes are following a similar trend to what they did this time last year: Volumes finished August higher than where they started, peaked after Labor Day and retreated from the highs. As the fourth quarter approaches, with record import levels flowing into both coasts for the time being, it’ll be interesting to see if volumes grow during October, compared to last year where volumes fell throughout the month. The Outbound Tender Volume Index (OTVI), a measure of national freight demand that tracks shippers’ requests for trucking capacity, is up 2.14% on a two-week stack. Why use the two-week stack compared to week-over-week measures this week? It removes the decline associated with the holiday, creating a more apples-to-apples comparison. The OTVI is now up 4.82% compared to this time last year, showing the continued growth in volumes year over year.

Sep 20, 2024 at 09:11 AM CST

The freight market came out of Labor Day with a flourish of volumes. Tender volumes reached the highest level of the year but have since started to retreat. Even so, tender volumes are following a similar trend to what they did this time last year: Volumes finished August higher than where they started, peaked after Labor Day and retreated from the highs. As the fourth quarter approaches, with record import levels flowing into both coasts for the time being, it’ll be interesting to see if volumes grow during October, compared to last year where volumes fell throughout the month.

The Outbound Tender Volume Index (OTVI), a measure of national freight demand that tracks shippers’ requests for trucking capacity, is up 2.14% on a two-week stack. Why use the two-week stack compared to week-over-week measures this week? It removes the decline associated with the holiday, creating a more apples-to-apples comparison. The OTVI is now up 4.82% compared to this time last year, showing the continued growth in volumes year over year.