The freight market has been easing since March, but recent developments show that the contract market is finally starting to roll over.
Contract rates currently sit at levels not experienced since January while spot rates continue to set new cycle lows. With contract rates ruling the roost, rejection rates are below 6% for the first time since May 2020, indicating capacity is the loosest it has been in quite some time.
FreightWaves’ head of research and communities Kevin Hill and senior analyst Tony Mulvey discuss where the freight market goes from here on this week’s edition of On the Spot.
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