Domestic Market Updates –
Weather: More winter weather is on it’s way heading to the U.S. Gulf Coast. Snow around 3-5 inches, ice, and low temperatures. Regions of Houston, New Orleans, and Mobile are expected to see the brunt of the weather – travel will be impacted. As a reminder – winter weather can create disruptions for truckers and shippers of domestic freight. Be on the lookout for possible delays throughout this week, with possible fluctuations in rates/demand.
Winter weather has had quite an impact on tender rejection and spot rates. Per Freightwaves data, rejection rates increased from 4.2% to 5.4% last January during an Arctic cold front across the central U.S., and rose from 6.6% to 8.7% earlier this month following two winter storms in the Midwest and southern U.S.
Truckload: The U.S. PPI (Producer Price Index) for long-distance LTL trucking remained unchanged for the fourth straight month in December – per data from the U.S. Bureau of Labor Statistics.
U.S. Labor Talks: Great news – the ILA union and USMX have reached a tentative agreement just days before the existing Master Contract was set to expire on January 15th. Specific details of the contract have not been released yet.
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