After easing modestly but steadily since April’s record level, FTR’s Trucking Conditions Index (TCI) in August rose slightly to a reading of 11.63. Freight volume and capacity utilization were not quite as favorable for carriers in August as they were in July, but more robust freight rates resulted in stronger overall market conditions. FTR’s TCI forecast remains for strong positive readings well into 2022.
Details of the TCI are found in our Trucking Update.
Also included in the October issue is a discussion of how the proposed vaccine mandate for companies with 100 or more employees might add more fuel to an ongoing capacity shift toward small carriers.
VP of Trucking
Avery Vise commented, “Market conditions in trucking still strongly favor carriers, and we have no real sign of an inflection on the horizon. After healthy – though not especially robust – gains in payroll employment during the summer, trucking job growth was relatively weak in September. Meanwhile, the shift of capacity from larger carriers to startups continues, adding to the supply chain disruptions that are bolstering spot market volume and rates for much longer than we would expect in a ‘normal’ hot market like we saw in 2017 and 2018. Rising diesel prices increase the risks of a swing of capacity back toward larger carriers if spot metrics begin to soften, but we have no indication of that happening yet.”
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Derek Young Business Development Manager, FTR | Transportation Intelligence
Derek is the Business Development Manager at FTR and is a great resource for anyone interested in learning about FTR products and service. Contact Derek to learn more about how FTR can support your business needs.