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.
Independence Day fell on a Thursday this year, so there were many people who took Friday off as well. That meant any shipments needing to be delivered last week had a tighter window, and those shipments moved at a premium.
After a slow start, reefer freight is finally hitting its stride. We've seen a uptick in both rates and freight volumes the past two weeks. The Midwest is leading the way, as summer produce is finally moving.