Freight Market Outlook: Buyer’s Market or a “Muddy Middle?”
JOC.com recently published an assessment of the current state of the U.S. freight market (“Declining volumes undercut US truckload rates,” subscription required), soliciting insights and prognostication from shippers, carriers, analysts and 3PLs.
“Currently, we’re in a relatively soft market,” said Rachal (Snider) Jordan, vice president of customer supply chain at third-party logistics company GlobalTranz. “At this point of the year, it shouldn’t be difficult [to find capacity]. But come June, once produce season kicks in, and the food and beverage industries start their ‘100 days of summer,’ that’s when it gets difficult.”
Based in Detroit, Jordan said she sees automotive companies preparing for a downturn, but the freight economy “is still strong.”
“Moving into the second quarter, I don’t see many customers slowing down,” she said. “We’re budgeting for another growth year. Freight has been strong since 2017. As far as we’re concerned, we’re not prepping for a downturn.”
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