Freight Rates Step Down for July 2022

We are currently in the middle of an anomaly where flatbed hauling is more lucrative on a per mile basis than reefer hauling. With reefers tending to attract a higher rate in the summer due to temperature control, it is likely that we will be seeing flatbed remain dominant throughout the rest of the year as the weather cools down and summer comes to an end.

Details

• The dry van hauling average nationwide was $2.64, a four cent decrease from June (initially the June average was $2.69 but has since been updated to $2.68).
• Flatbed rates dropped fifteen cents to $3.30 (as with dry van, the rate for June was updated in the middle of the month for flatbed).
• Reefer decreased four cents to $3.00 per mile (the same update applies to reefer hauling).
• The average decreased from $3.06 (or $3.04, if using the updated numbers) to $2.98.

These numbers are not much of a shock considering that diesel prices have also been on the decline, and freight rates are naturally tied to the cost of moving goods across those miles.

What is interesting to see is that while dry van and reefer hauling decreased slightly, flatbed held the majority of the decrease for the month. As the temperature decreases as the United States approaches the winter months, flatbed is still expected to be king of the road despite this slight misstep.

Conclusion

While freight rates are not as high as they were in months prior, the getting in the trucking industry is still good, especially for flatbed haulers. Some, if not most, of the decrease in revenue from the lower rates will be offset by reduced costs at the pump. As we approach the holiday season, rates are expected to rise back up as well.

If you are in the market for a new trailer with which to go flatbed hauling (or even dry van or reefer, if that is what you want), TopMark Funding can help by leveraging its numerous funding sources to get you the best deal for your particular scenario. Read on below for more information.

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