Below, please see the latest market updates from across our carrier network. Please inform, consult, and educate your customers, prospects, and teammates on current market conditions.

Weather Updates:

• The National Oceanic and Atmospheric Administration (NOAA) released its 2023 hurricane season forecast. NOAA projects to see 12 to 17 named storms, with 5 to 9 of those storms being hurricanes and 1 to 4 of them being category 3 or higher. The season will start on June 1 and peak between August and October. The modeling suggests a 70% chance of near and below-normal hurricane activity.
• Hurricane activity can impact freight movements with high winds, flooding, road closures, power outages and more. Any event that culminates will be communicated directly with affected clients as well as in this weekly update.

LTL Updates:

• Diesel prices went down for the sixth week in a row, decreasing nationally $.028 to $3.855/gallon. Diesel is down $1.684 from one year ago. Rates decreased in all 10 regions with the largest decrease of $.073 in the West Coast less California region, and the smallest decrease of $.008 in the Central Atlantic region.
• The distillate inventories are at their lowest level since October of last year, which may indicate rates could level off and can be seen in smaller decreases over the past few weeks in price/gallon.
• Last week, Saia opened its fifth new terminal since the beginning of 2023, located in Muncie, IN. The company’s main goal with this new addition is to improve its state coverage in Indiana and reduce pickup and delivery times between stops. Saia opened terminals this year in Atlanta, GA (April); Kansas City, KS (February); Morgantown and Princeton, WV (February). Currently, Saia operates 192 terminals throughout the United States, with a workforce of over 12,000 employees.
• The revised forecast for LTL rates has weakened further from last month down .8% for a 3.2% decrease y/y (year-over-year). 

TL Updates:   

• Spot load posts are down 10.5% from last week with spot truck posts up 8.5%, now that Roadcheck week has passed. LTR (load-to-truck ratio) was down in all three categories (Van, Flatbed, and Reefer) as predicted, however, it remains elevated over pre-Roadcheck week due to Memorial Day weekend and out-of-service equipment. 
• Dry van demand dropped to 2.64-1 LTR, with the heaviest demand remaining stable in AR, AZ, GA, NV, SC, WY and the southern states of the Gulf Coast. 
• Dry van spot RPM (rate per mile) is down 1 cent from April to $2.06 RPM, down $0.65 y/y nationally, with the Midwest having the highest RPM at $2.18. 
• The dry van outlook for loadings turned into positive territory at 0.3% y/y, up from the 0.2% decline in the prior forecast, with spot rates showing signs of finally bottoming out.
• Flatbed LTR came down by 1.07 from last week to 12.40-1 LTR nationally, with demand highest at 18+ to 1 LTR in the following states: AL, AR, GA, ID, LA, MS, OR, SC and TX. 
• The national spot flatbed RPM is down 2 cents from April to $2.65 RPM, down $0.77 y/y, with the Midwest continuing to hold the highest RPM at $2.79, and the Southeastern rate at $2.78 RPM. 
• The flatbed outlook for loadings flipped to positive territory due to the demand for building materials and minimal declines in other commodities. The loadings forecast jumped from –1.1% to +0.2% y/y, with the total rates forecast improving 0.5% to –8.0% y/y.
• Reefer demand was reduced by 1.62 to a 3.63-1 LTR, with the highest demand in AZ, FL and ME at over 5.6-1 LTR.
• National reefer rates are up 3 cents to $2.44 RPM from April, down $0.65 y/y, and are highest in the Southeast at $2.55 RPM. The Midwest held stable from last week at $2.53 RPM, and the Central South is held at $2.51 RPM.
• The reefer loadings outlook improved from 1.5% to 1.9% y/y with non-food groups showing the strongest gains. However, contract rate volatility has impacted reefer rates showing a 2.0% decline to -10.5% y/y. 
• According to Sonar’s 4 Week Capacity Score data, the following markets have experienced the most tightening:
  • Van: New Orleans, LA; Atlanta, GA; Indianapolis, IN and Philadelphia, PA. 
  • Reefer: Charlotte, NC; Baltimore, MD; Greensboro, NC; Sale Lake City, UT; Stockton, CA and Toledo, OH.        
• Conversely, the following markets have experienced the most loosening:
  • Van: Cleveland, OH; Tifton, GA; Portland, OR; Ontario, CA and Harrisburg, PA.       
  • Reefer: Winchester, VA; Boston, MA; Madison, WI; Joliet, IL; Omaha, NE and Columbia, SC.   

Embargoes:

• A. Duie Pyle:  
  • Weight restriction over 9,000 lbs., no more than 7 pallets 
• DHE (Dependable Highway Express): 
  • No more than 6 pallets 
• N&M Transfer:
  • Residential PU/DEL
• SAIA: 
  • No shipments over 15,000 lbs., 7+ skids 
• Southwest Motor Transport: 
  • Weight restriction over 10,000 lbs., no more than 6 pallets
• Standard Forwarding: 
  • IB/OB ANK terminal which is Iowa and some parts of Illinois