Trucking continues to show signs of weakening. Volumes have slowed since the start of the month, with no signs of firming.

Truckload spot rates make a new cycle low. With volumes struggling, spot rates will likely fall further. 2/ pic.twitter.com/GIAMDaZP35

— Craig Fuller 🛩🚛🚂⚓️ (@FreightAlley) March 19, 2023

Contract rates are likely to continue their fall in the coming months, as the spread between contract and spot rates is at very high levels.

The way to think of this is that "a low spot rate will pull down the contract rate." 4/ pic.twitter.com/up6AuPe3kr

— Craig Fuller 🛩🚛🚂⚓️ (@FreightAlley) March 19, 2023