Recon Logistics - Freight Advisors

Recon Market Update - May 26, 2022

Posted by Hank Newman on May 25, 2022 3:38:06 PM

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That emoji about sums up the lack of a market update for some time now! I suppose I've been holding out for some good news to post or positive charts to point to, but it's essentially been more of the same.

Okay - maybe worse than that in a lot of areas! But there is still a lot of confusion as I continue to hear optimism about soaring prices all over the place — who knows!

The truckload spot rate market is a strange one and does not bode well for small fleets. I'm worried about a ton of small operators going out of business, so be careful who you are working with! The crash in rates isn't as obvious to see with diesel soaring as it is.

I supposed I could point to one positive trend (I DO try and stay positive!) - LTL performance seems to be edging up ever so slowly. We are still nowhere near "normal" levels of service, and those of you who are beyond frustrated with missed pick-ups and shipments being late, not just days, but weeks, this may not mean much — but it is progress!

I included a link to an article posted recently stating that supply chains will never return to normal — it might be interesting for some of you. That link is below the charts.

I'll update key charts for the rest of the update, including the LTL and TL PPI, which continue to defy gravity!

Enjoy!

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Supply chains are never returning to ‘normal’

Tags: LTL, Freight Rates, LTL Carrier Cost, Logistics, LTL Service, Freight News, Freight Update

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