Freight Rates Normalize for December 2022

The holiday season is now in the rearview mirror, so now we can look at the data from December and determine what effect the holidays have had on the trucking industry. In regards to freight rates, it appears things are going back to normal for the industry.

December 2022 Numbers

• Dry van increased three cents to $2.41 per mile.
• Flatbed decreased five cents from $2.81 to $2.76 per mile.
• Reefer hauling increased a penny to $2.81. With this, reefer is back as the most revenue-generating form of freight.
• The average of the three has decreased a penny to $2.66.

So what does this data show us? It exemplifies that the holiday rush of consumerism continues to have an effect on freight rates in December, despite Black Friday taking place in November. A majority of gifts consumers purchase, such as electronics and appliances, transport to stores and doors by way of dry van.

Flatbed, due to diminished demand, dropped slightly for the holiday season, ending the trend of flatbed averaging higher than reefer hauling that has been happening since April.

Conclusion

With freight rates going back to what they were before, it may be an omen of other aspects of the trucking industry finally going back to normal. We may once again see the days where there are no supply chain shortages, and used trucks are a good bargain for the savvy fleet owner. We can only hope.

With the holiday season over, the next quarter is expected to be the slow season for trucking, and freight rates are expected to decline. With that said, as the past few years have been filled with crazy circumstances, anything is possible. We will be sure to keep you updated as any changes occur.

Of course, should things wind down for now, it would become the best time to expand your fleet to prepare for the year to come. If you are looking for a new or new-to-you truck or trailer, TopMark Funding would be more than happy to help you get the best rate. Read on below for more information.

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