Flatbed freight has lagged for much of the year, but demand spiked on the top flatbed lanes last week. A big part of that was due to increased activity from inland Southeast markets shipping into areas impacted by Hurricane Dorian.
Apple harvests and the arrival of Hurricane Dorian on the East Coast rearranged supply chains, tightened capacity, and boosted rates on several lanes last week.
The negative news we’ve been reporting for reefer produce turned around last week, as robust apple harvests were underway in several markets throughout the country.
Last summer, the spot market didn't have enough trucks to meet the surge in demand, which gave rates a major boost. Now, we are seeing more traditional fluctuations on the market.
This summer, reefer markets have felt the woes of reduced harvests due to harsh weather. That's kept rates from climbing, and reefer trucks have also been competing for dry van freight.
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.
Reefer demand trailed off in California and Texas last week, and the majority of high-traffic reefer lanes paid lower rates last week. But there were early signs of activity shifting northward.
So far in August, shippers have shown a lack of urgency, marking the weakest point for van rates in the second half of 2019. But one region saw an increase.
Truckload demand got a boost at the end of July, but that urgency slowed by the start of August. That led to a lot of mixed results on the spot market last week.
