Flatbed Reigns Supreme for May 2022
DAT Freight and Analytics continues to report unprecedented times: flatbed hauling is the king of the road. With May 2022, the throne has only become higher.
May 2022 Numbers
- Dry van hauling was $2.71, an eight cent decrease from April 2022.
- Flatbed increased by three cents going from $3.42 to $3.45.
- Reefer transportation decreased eight cents to $3.07.
- The average went from $3.12 to $3.08, a decrease of approximately four cents per mile.
With global supply chain shortages still affecting the United States, it seems the demand for raw construction materials such as lumber continues to stay strong. With recent economic events such as the coronavirus pandemic and what experts are calling the Great Resignation, it may be a while before the demand for having these materials delivered dies down.
What is interesting to see is that, with the warmer weather that is steadily increasing, reefer hauling rates still went down. It will be interesting to see what happens to reefer rates in the coming summer months.
The slight decrease in dry van hauling may at first look like bad news, but it indicates a stronger trucking industry, as the number of drivers increases and the supply of trucks on the road can better match with demand. Provided that the number of truckers increases at a rate faster than the average hauling rate decreases, the industry will continue to grow.
Conclusion
May 2022 marks the second month in a row that flatbed has toppled reefer hauling as the leader of logistics. With the gap only widening this month, and preliminary June data from DAT saying the gap will widen further still, it will be interesting to see when things return to normal and reefer returns to having the highest rate. Currently the gap between the two is now 38 cents per mile.
If you are in the market for a flatbed trailer, or even a dry van or reefer in hopes of taking advantage of reduced prices now to make more money when prices rebound, TopMark Funding can leverage its expertise to get you the best rate for your credit scenario. Read on below for more information.
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