Thanksgiving week was short but intense. Rates rose sharply on loads that were picked up, to entice drivers who may have had to spend Thanksgiving on the road.
Refrigerated freight volumes hit a new weekly record, surpassing even 2017's record-setting volumes, and rates have climbed more than 6% from the prior month.
Thanksgiving is less than two weeks away and there's an urgency to get fresh and frozen goods to supermarkets before the big day. Last week we saw the highest reefer volumes in the past three months.
We're in that transitional season between the end of fall harvests and the beginning of the holiday rush. Rates dropped in the Midwest but were up at the southern border as imports cross into the U.S.
Load volumes have been rising since mid-October, but rates have not responded until now. Van and reefer rates are now 2¢ higher than their October averages.