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Rejection rates have surged past the 21% level on the national level. Meanwhile, volumes have turned positive year-over-year. The combination of tightening capacity and stronger demand is placing upward pressure on rates.
Volumes turn downward heading into the Christmas week while rejection rates have rebound back above 20%. Carriers still maintain a firm grip on pricing power in the market.
Volume levels are following a similar trend to 2019, just 40% higher. Tender rejection rates are trending sideways, likely to move higher over the next week.
Tender volumes decline but remain elevated compared to ‘normal years’ meanwhile rejection rates have found footing around 20%.
Thanksgiving noise continues to mask freight volumes, but that noise will be erased in the upcoming days. Meanwhile, Thanksgiving drove spot rates higher over the past week.