October 2020: Freight Rates Continue to Defy Expectations
What do you get when you take the coronavirus pandemic’s pushing of consumer demand into later months of the year, and combine it with the infancy of the holiday season? You get October 2020, another month of consecutive growth for freight rates.
In all three categories, the price per mile has gone up higher than the previous month since May. For reefer rates, its another month longer.
The data are especially interesting when considering how DAT predicted in early October that the rates for dry van and reefer that month would go down. The increases this month are smaller than the months prior, but when considering how some of them were expected to go down, continued upward momentum is still very surprising.
For November, DAT predicts a drop for dry van and flatbed, with a sharp jump in reefer up seventeen cents. It will be interesting to see how it turns out; stay tuned!
CORONAVIRUS [COVID-19] UPDATES AND ARTICLES
- Trucker’s Guide to When Every State is Reopening
- FMSCA Extends Hours of Service Relief Declaration
- How Truck Drivers Can Keep Their Cabs Clean During COVID-19
- International Roadcheck Delayed Over COVID-19 Fears
- Pennsylvania Reopens (Some) Rest Stops
- Truck Dealers Seek “Essential Status”
- Navistar And Paccar Halt Production
- Mack And Volvo Suspend Truck Production
- Fmcsa Expands Its COVID-19 Response
#THANKATRUCKER
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