Loads were down, trucks were up in the spot market in July, according to the latest data from TransCore Link Logistics.
There was a 9% decline in loads compared to June, with 15% more truck capacity chasing those loads. July is often a slower month due to national holiday closures and the ending of some seasonal produce shipments, TransCore noted.
Intra-Canada freight volumes increased while cross-border freight declined. Truckload rates decreased 1% in July from $2.68 per mile to $2.66. Flatbed rates were up 3%, while reefer rates were down 17%.
Cross-border reefer loads reached a new high since February, up 52% compared to June. Van and flatbed loads to the U.S. were up 17% and 16%, respectively. But loads to Canada were down across all load types.
Truck availability surged in the state of Texas, with van rates declining an average of 4% from Texas to Ontario. Markets that saw gains in cross-border load volumes included Joliet, Ill., Milwaukee, Wisc., Boston, Mass., and Albany, N.Y.
Equipment postings surged 15% following a drop in June, marking the second highest levels recorded in Loadlink history. The truck-to-load ratio in July reached a decade-high of 4.16, a 26% increase from June’s ratio of 3.31. The truck-to-load ratio for northbound cross-border freight was up 106% on average, partly due to the fact 83% of all American markets had reduced outbound freight to Canada.