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Surge in spot market traffic drives down truck rates; will contract bids follow suit?

Mar 19, 2017 at 07:23 AM CST
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Will an unexpected surge in demand for non-contract, or "spot" market, truckload freight influence the outlook for contract rates as the industry heads into the traditionally strong spring shipping cycle?

Spot traffic was anything but punk in February, which is normally a slow month. DAT Solutions LLC, a consultancy that provides load board services to the spot market, said total volumes last month rose 48 percent from the same period in 2016. This led an unusual number of contract carriers to shift capacity into the spot market, a common tactic when spot demand spikes.