Trucking Market Update: What’s Happening in May 2023 in the Freight Market? Volumes/Rejections Up

I have to first apologize for the color of the video. Charts are right here if you need a closer look: https://drive.google.com/drive/folders/1yoqwSBKcv_RA17wdKqHSUKKRKQk6vzys?usp=share_link

Now…May historically is a better month than April, and this month is no exception. The reason for this is mostly the DOT inspection week which caused many carriers to park, therefore increasing tender rejections and volumes on the spot market. The spread between spot and contract increased from last month and is now a 91 cents, meaning contract pays 91 cents per mile more than spot. It looks like the freight market is still on its way to the contract side, and I am patiently waiting for the tide to change.

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