It’s no secret that truckload rates have been hot, and prices are still exceptionally high. But for shippers, there are signs that some of that pressure is releasing, according to the recently released Pulse Signal Report for November.
The October report showed the early signs of a slowing market, and those signs became more pronounced in this most recent report. For example, the Spot Premium Ratio, which takes the average spot rate cost per mile for shipper members of the Freight Market Intelligence Consortium and divides that by their average contract rate cost per mile, fell for the first time since May.
The SPR captures the pressure that spot rates are placing on contract rates and provides early signs of changes in contract rates. A falling SPR is a measurement of that pressure releasing, though obviously rates remain high.
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