The video titled “Trucking Market Update and Forecast (June 2, 2023): Contract Rates Falling, Spot Rates Up For Now” provides an analysis of the current trends in the trucking market, with a focus on dry van shipping in the USA.
The video suggests that the freight volumes typically drop after the Memorial Day weekend but historically, they tend to climb up higher after Memorial Day due to the increased loads during the holiday. However, this year, the produce season is delayed which might cause a delay in the increase of volumes.
In terms of the best markets for dry van shipping, the video suggests that dry van operators should stay away from the West Coast as it has an overcapacity issue. The best areas to operate dry vans are in Texas, particularly in the Fort Worth area, and in the Midwestern areas. The South might also be a good area to check out.
The video also mentions that the Fort Worth and Houston areas in Texas are interesting due to their high volume and tender rejections. The Memphis, Tennessee market also has a high volume and tender rejections. However, the volume in the Jacksonville area in Florida is flat, despite high tender rejections.
In conclusion, the current trend in the dry van shipping market is characterized by a drop in freight volumes after the Memorial Day weekend, with an expected increase in volumes due to the holiday. However, the delay in the produce season might cause a delay in the increase of volumes.
The best markets for dry van shipping at this time are in Texas, the Midwestern areas, and possibly the South. The West Coast should be avoided due to overcapacity issues.
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