November 2018 Freight & Trucking Update

November 7, 2018
Freight Rate & Trucking Update – November 2018 Hello and thank you for joining the November 2018 freight rate and trucking update from TCI Business Capital. Here’s what’s happening out on the road. DAT.com is reporting that the decline in the national average van, reefer, and flatbed rates has slowed. The West coast has been the biggest driver of demand in the freight market over the past few weeks. With the coming holiday season, analysts expect increased demand, lower capacity, and better freight rates. With the beginning of November, the national van rate average has dropped to $2.09, compared to $2.14 at the beginning of October. The highest average rates are on the west coast and the lowest are in the Northeast. Load-to-truck ratios are high in California, Oregon, Iowa, Ohio, and Pennsylvania. Average reefer freight rates dropped $.07 nationally during the month of October, finishing the month at $2.43 a mile. There is a big discrepancy in rates across the country with the highest rates in the upper Midwest and the lowest in the southeast. DAT reports load-to-truck ratios as being highest in the upper Midwest and Northwest areas of the country. National flatbed rates continued their decline during October, dropping from an average of $2.55 down to $2.47. The highest average rates are currently in the Northeast, and the lowest are in the southwest. Top areas for load-to-truck ratios are in the Northern plains states and the Pacific Northwest. The most recent data from the Energy Information Administration is showing the national average diesel price dropped $.05 to $3.33. Comparing diesel prices to one year ago, prices in most regions of the country are $.40 to $.50 higher. The short-term outlook is for diesel prices to continue to trend down. To stay informed on what’s going on in the trucking industry, subscribe to our YouTube channel and visit our trucking news and information page at tcicapital.com. Since 1994, TCI Business Capital has provided cash-flow solutions to trucking companies with our freight factoring services. To learn more about TCI Business Capital and our factoring programs, give us a call at 800-707-4845 or visit tcicapital.com.
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