Tender rejections hit an all-time high as spot rates grind higher.
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Rates and rejections holding at very high levels before Thanksgiving and Black Friday.
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Truckstop dry van truckload spot rates from LA to Dallas spiked 11.5% week-over-week.
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Tender rejections increased in LA, Dallas, and Chicago—and so did the national average spot rate.
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Gross margins narrowed across the board, but 3PLs moved more volume with fewer people.
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Markets have been flat to soft for two weeks, but expect a turn-up heading into November.
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Carriers are still exercising optionality and charging a premium to drive into backhaul markets.
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Expect volatility to the upside in Q4.
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Everything is in place for a face-ripping rally in Q4.
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Relationships between shippers and transportation providers are being reshuffled.
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