TransCore reports that spot market freight availability up 69 percent year-over-year in October

As has been the case in recent months, the spot market continues to post impressive gains on an annual basis, according to data from the TransCore North American Freight Index.

By ·

As has been the case in recent months, the spot market continues to post impressive gains on an annual basis, according to data from the TransCore North American Freight Index.

For October, TransCore reported that spot market freight availability was up 69 percent year-over-year, representing the third straight month in which spot freight hit its highest year-over-year levels since 2005, which TransCore said was a peak year for spot market volume.

August and September spot market annual gains were 75 percent and 65 percent, respectively, and October’s load volume was relatively flat, with a 0.9 percent sequential gain from September.

While freight volumes are showing some modest signs of improvement, TransCore has said that will likely result in annual spot market comparisons heading down, which has been occurring for the most part. This is especially true when looking at annual comparisons from June and July, which were up 112 percent and 122 percent respectively.

And even though sport market volume was flat on a sequential basis, TransCore said that in the last six years, spot market volume has increased month-over-month three times by an average of 19 percent and declined three times by an average of 15 percent, with a six-year average increase of 1.7 percent from August to September.

A research report from Ed Wolfe, president of Wolfe Trahan, noted that “pricing pressure has moderated in recent months as demand has fallen from summer’s highs.” And Jon Langenfeld, analyst at Robert W. Baird & Co., said that his firm’s spot market demand index, excluding an October uptick in demand, reflects a modest upward trend since bottoming in August. Langenfeld also noted that other spot demand resource have begun to reflect a modest uptick in demand starting in early November.

A freight transportation expert told LM that while 2010 levels look good on an annual basis compared to a tough 2009, the sequential trending down in spot market freight availability—and the American Trucking Associations and Cass Information Systems monthly freight indices to a certain extent—are to be expected. And while freight volumes are not rising at the level they did earlier in the year, the expert said volumes, instead, appear to be settling in.


About the Author

Jeff Berman, Group News Editor
Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. Contact Jeff Berman

Subscribe to Logistics Management Magazine!

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your entire logistics operation.
Start your FREE subscription today!

Article Topics

Spot Market · TransCore · All Topics
Latest Whitepaper
eBook: Why Multi-Tier Supplier Collaboration is More Important Now
Explore the benefits of supplier collaboration including sharing demand forecasts, faster reactions to demand or capacity changes and well-coordinated product launches.
Download Today!
From the September 2017 Logistics Management Magazine Issue
While Amazon’s recent bid to purchase Whole Foods made mainstream headlines, the e-commerce giant will still need to adhere to time-tested realities. Any way you slice it, the integrated U.S. cold chain requires optimized service from existing ports, 3PLs, cold storage warehousing, transportation providers and high-value vendors.
Improving 3PL Management: Glanbia Adds Muscle to Logistics
Why Retail Supply Chain Transformations Fail - and how to get it right
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly email newsletter!
EDITORS' PICKS
26th Annual Study of Logistics and Transportation Trends: Transportation at Digital Speed
While a majority of companies strongly agree that transportation is a strategically important...
34th Annual Quest for Quality Awards: Winners Revealed
Which carriers, third-party logistics providers, and North American ports have crossed the service...

2017 Salary Survey: Fresh Voices Express Optimism
Our “33rd Annual Salary Survey” reflects more diversity entering the logistics management...
LM Exclusive: Major Modes Join E-commerce Mix
While last mile carriers receive much of the attention, the traditional modal heavyweights are in...