Reefer markets have been waiting for an uplift from late summer fruit and vegetable harvests, but so far, that hasn't happened. The Midwest has made gains, but not enough to make up for markets where harvests have struggled due to weather.
Van freight trends have been muted for nearly all of 2019 – we haven't seen many sharp spikes or large drops. Overall, it's been a steady decline, interrupted by higher rates in June and the first half of July.
The summer slowdown has arrived for spot market truckload freight. It’s typical for prices to drop around this time of year, but declines in reefer freight and oil field activity are also adding a drag on van rates this summer.
Reefer rates and volumes continued their summer slide. The decline stings more since reefer trends have disappointed so far this year. Unpredictable weather has hurt produce harvests, and reefer markets have suffered as a result.