Market Updates: June 25th, 2024

Domestic Market Updates –

  • Rates and Capacity: Produce season continues to influence the overall truckload market in the U.S. Southeast, increasing rates and impacting capacity.

  • Diesel update: As of Jun. 24, the average U.S. per-gallon price of diesel was $3.769, and increase of three cents from Jun. 17, per U.S EIA. Diesel prices are highest in California where the latest average was reported as $4.913 per gallon. 

  • LTL Shipping: The less-than-truckload market in finding its footing after nearly a year removed from last year’s closure of LTL carrier Yellow Corp. Formerly one of the sector’s largest carriers, Yellow’s departure left a volume vacuum in the market as remaining carriers and former Yellow customers (shippers) transitioned to the major change.

  • Intermodal: The threat of a rail strike across Canada’s Class I networks remain a possibility as early as July, an event that could halt the country’s freight rail movement, including to and from the U.S. For the latest on the situation.

  • Holiday Impacts: Expect an increase in demand in the days leading to July 4 (Fourth of July holiday) as shippers push to get orders out before they and/or their transportation providers temporarily close or limit operations. Truckload rates around the holiday are typically at premium levels.
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