Trucking and Freight Market March 28 2024: Capacity Continues to Increase While Rejections Fall
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- Опубликовано: 17 май 2024
- The freight market as a whole is stable bad, or maybe slightly worse week over week when we consider both the contract and spot markets. However, there is no denying that specific market areas are changing constantly, and the key to surviving trucking is to consistently monitor the markets.
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Takes a special kind of person to keep trying to motivate others while they are also struggling themselves. We need more Mirandas in this world.
Well said
Don’t ever say you will quit! You are our beacon of light. We will all get through this, together! Thank you for being the support that I totally rely on!
I’m definitely insane 😂. I should’ve sold out two years ago, I saw this coming but I was hoping that carriers would fight back. Unfortunately I wasn’t taking into account that many small carriers that live off the spot market were going to take anything to keep their drivers moving… 😑. Right now I’m in the process of decreasing my expenses at all cost, including but not limited to selling my house and my vehicles. Good luck everyone. Survival of the less indebted 😅
That’s some serious dedication your willing to lose your house and vehicles to stay in business… big gamble but admirable
I’m standing up to this bullshit we see in the market, I was one of those carriers that fought back, fought the system, but very greedy carriers out there didn’t want to share the money, they should’ve paid their drivers a percentage of the fright instead of pennies, but everyone has to get paid like that, if we are all sitting waiting to get a better rate the rates have to go up, if that driver is making 20-25% of that load and knows what the load is paying he’s more inclined to wait for the better rate. I’ve worked hard for my freedom, and I’m not interested in giving my freedom up. My home was an investment and now that I have a worthy amount of equity into it it’s time to cash out, pay off I all my debt and start over. That and I’d rather sell my house instead of loose my house, loosing my business would mean losing everything so why not just sell everything to keep my business/freedom.
I take comfort in knowing that my rig is paid off and I haul containers so no trailer expenses. I feel for the guys that went out and spent 250k on a truck and 100k on a trailer thinking rates would stay at 3.50-4 dollars a mile and are upside down now. Sorry guys.
Paid off, intermodal is the way. It’s not a lot but it’s ticking me over. Average $3.5k a week atm 😢
@escapereality3980 i gross between 3.5 and 4.5k out of Chicago. It varies a lot though, sometimes I barely crack 3k but that's staying local burning about 700 in fuel.
Thank you for the update Miranda!
2.41 for flatbed. That has to be including oversized cause this week was terrible
2,41 for that chaos....6$ maybe...😂😂😂😂😂😂
Appreciate all the data crunching you do to present the reality of the markets each week!
Used equipment is dirt cheap now, so I think that is a big reason why people are getting into trucking. Plus the weather is more favorable.
Yup its just a fluff. Expect big accidents this summer by people who never worked for a company but are brand new O/O's
Cars as well. I just found bmw 2023 with 15 k miles. Seventh series for 50k.
This equal car used to cost 80k a year ago
Independent contractor leased to a private carrier hauling a reefer. Last 2 weeks total average was 2.37 one week and 2.58 the other. Damn did she say 1.87 dry van? Dry vans blow my doors off all day long doing 70 plus like the rates are amazing and fuel is free. I'm at 8.4mpg and always around 78,000 and drive 60 everywhere
Not all van rates are like that. I was doing substantially better than that but after 34 yrs OTR and 19 1/2 yrs as an O/O my last truck finally got too costly with emissions related issues. Van freight that pays the best usually light weight unlike reefer freight. At 62 + yrs old I decided to sell the truck. Not buying another truck. Good luck to you.
@@Prodigal1should have bought a new truck dawg
@@rigobertoespinoza1685 not again. Owned 3 that was enough. Do miss my sleeper. Had an ARI Legacy sleeper 144” with all the amenities, shower, sink, toilet, two burner stove, microwave/convection oven/air fryer etc but last couple of years it didn’t pass a KW or Peterbilt shop that it didn’t want to visit. 34 yrs OTR is enough!
@@Prodigal1 nice man ya i bought a new box truck hasnt seen the shop in 2 years best decision ever. Just basic oil changes just got it paid off im able to breathe now. My dream truck is a w990 one day.
Dryvan should be getting a minimum of $3 per mile.. refer should get at least 75 cents more.. look at the price of goods… somebody’s making the money!
As always, your knowledge and insight are greatly appreciated.
Just want to say thank you for your content helps our small box truck company grow. 🚛
What a fabulous, talented person you are. Whatever you decide to do next, it WILL succeed. You're too smart for it to not succeed.
That’s exactly how I feel. Thanks for putting into words how I feel
Thank you
Great video like always!
Keep it up!! you are an asset to the trucking industry. In these weird times we need all the Tactical info out there to maximize efficiency in the trucking business.
Unfortunately oil going to 120 a barrel. Middle east conflict going to constrict as conflict escalates. Ty for this analysis, amazing insight
Love your maps.
Thanks for all you share, and do for everyone ! I would like to share something too ! So, in addition to producing clean air for us to breathe, ( trees ) also remove pollutants from the air that could otherwise contribute to health problems for residents. So, for everyone that wants clean air to breathe, less pollutants, and more wood. Start planting as many trees as possible, today already ! Yeah ! God bless ! 😊
Happy weekend. I see out here in pa volume up dry van. 😊😊
Loved the ending 😂😂
Thank you
Nice video!!! Thanks
Since the beginning of your channel when i was one of 300 that was there,i NEVER heard you say the forbidden word "QUIT" ! I know the daily grind & financial strain is unbearable, & I will not be cliche & say " Hang in there." Everyone's situation is unique in these times. But what i will say is you have motivated 10's of thousands of people to stay positive,& it has been a blessing. I hope you find a small piece of light that will keep your engine running. I find my motivation from seeing people that have it worse than me out in the streets,& they somehow manage to survive. YES,it is rough out here. But so was starting our businesses from the beginning. The same way we dealt with it then,is the same way we should deal with it now. SURVIVE Miranda,i promise you that you will be grateful that you did ! Don't look back and regret an emotional decision,because i know by your intelligence.....you have more stones you can turn over. 💙💙💙
Well, I was just in North Carolina and ended up going to Pennsylvania thinking it was gonna be better for the reefer market. And I can tell you firsthand that the refrigerated rates and both those areas are terrible. In fact, both areas had loads listed at around $1.06 to $1.08 per mile Hauling refrigerated freight and excessive 40,000 pounds. Those are absolutely ridiculous rates.
Once again thank you for the awesome update and I hope you and your family have a wonderful, blessed Easter. Keep the faith we’ve made it this far
Signed probably more crazy than you.
1,08 for reffer....i say no even with my motocycle...😂😂😂😂😂
@sasapopadic384 my Raider 1854cc is even to thirsty for this rates
You absolutely rock girl and tell it the way it is. Don't feel too bad, you are not alone in the out there cukoo world of believing things will get better...
The past 2 weeks ive been able to average 3.50 a gallon running Minnesota to California and back. My Fuel card has been giving awesome discounts at pilot/flying J lately.
What fuel card are you using thanks
❤🧡💙💜💚 Happy Easter
great video
Don't quit.
Back in Black!
Hi. I am doing 2.84 too 3.98 on rates for flat bed for over a month. That's the best I seen I awhile
It won’t last long…once the cheap garden spring dirt is gone….just like the story with the pellets…
You've been an inspiration. Where do you operate from?
The countries truckload market is gigantic, fragmented and dynamic. So it is very important to understand basic economic concepts such as supply and demand.
I do tow ways from Canada to the US and when I come back, I look for a trailer to bring back to Canada, but I will not haul a trailer just to pay for my fuel. I’ve already made money to go back empty and I’m not hauling somebody’s trailer just for the hell of it.
Looking to jump back in but i was box trucking with amazon and a couple boards to supplement is it still worth it.
Hey thank u LEEETTSSSS GOOOOOOOOO!!!!!!!!
turned in my truck 2 weeks ago. filed bankruptcy. Im out. shouldve done it 6 mos. ago.
im sorray
Thank you. It is what it is.
Peace Ms. Info!!
What are your thoughts on the port of Baltimore being closed for a month?
Spot rates are down this week, from last week. I meet a freight broker that was honest & said a load 900 miles paid $3550 with $470 fuel surcharge, load booked for less than $1800. That’s crazy. Where is our fuel surcharge, that would make up for some of the low rates. Truckers all over should strike. Show us what the load paid the broker, because we don’t know if it’s the shipper or broker keeping the rates low, then constantly cutting them, because a carrier gets desperate and takes anything.
Hey Miranda thanks for the market updates. Passed all of my written tests today for my CDL-A permit and have it in hand. Also got approved thru VA to cover CDL Training School. I should have my CDL in a few weeks, still super excited even though market is flat, but I am positive about a significant improvement over the next year but not until after November. Looking forward to getting my experience and then in 2025 we can really get this country and industry trucking again. MAGA Trucking. Thanks Again. Still educating myself on these clocks. You do a great job of explaining.
How is the Key bridge situation affecting truckers?
Capacity is increasing?
The pay must be good 😂😂😂😂😂😂…this is so ridiculous.
Lets go 💪
This industry is full of people who do it as a hobby and people who don’t know their numbers. Its suicidal to compete with them.
💯.. you can't compete with someone that would take 40k pounds for 1.05 through mountains
Anyone else tired of paying $4 for a mc chicken?
I Never buy Mc Ds,Eva!
You can thank Joe Biden for that!!
Don't buy it. If people don't buy it. They have no choice but to bring the price down. That's the same thing with rates.
I feel same way Safer I have pre-pass Fmcsa put me on 90 pull in rate my score is 0% no Accident no nothing perfect score bull shit pulled every time need help to file complaint??? Picking on owner operators ???
Shut down and sell your assets while their worth something. I sold my paid off old truck to one party then sold off my authority for 10K to another. If your MC is with a LLC or Corp it can be transferred and sold. Nontransferable if your set up as a sole proprietor with a SSN. If you want to go active dormant without a truck you have the FMCSA to reduce your liability to 300K that way you can use your personal vehicle to put commercial policy for around $140 per month and still be technically active.
Why would someone pay $10,000 for your authority? It doesn't cost that much...
@@debeaconA established MC permanent authority with good CSA scores is worth that plus possibly way more. Its like purchasing a turn-key business. Its a asset. Don't throw it away.
I’m new to the freight industry. The freight industry is fragmented due to the LOW ENTRANCE BARRIERS that allow new companies to open a trucking company.
Yes exactly Warren Buffett always says look for companies to invest in that have moats around them aka look for monopolies or trades with rigorous licensing and trade union barriers. Free markets is really just a scam to convince the poor to settle for rugged individualism and arduous competition 😂 anyone with power avoids competition
Miranda❤️❤️❤️❤️❤️❤️❤️❤️
I know you have some more detailed maps that you show us but the information for full states seems too general, you zoom into any of those states (even the "bad" ones) you'll find opportunity. So I am wondering if its even worth going into full state analysis and just focus on cities or even counties (if all that is even possible, don't see why it wouldn't be).
but after I write this you do mention specific places so of course you know what you are doing, I'd be asking if it was just a state on the map "but zoom in a bit" but you already know that I think.
I can last maybe another 8 months with rates like this before I shutdown
Stop delaying the inevitable
@@jimmyconway6080 well it wouldn’t be a complete shutdown id just sell my personally trucks I’ve got 5 owner ops that would still be running
Get a job for 8 months!
better than most of us who may not make it 8 months. you might win lol
Like I said before people in general need to learn how to invest o taker the money , trucking business is been amazing for me I own 3 semi trucks and 2 straight trucks until today we are working normal but I know that any moment is going to be slow but guess what we are ready . I have a amazing team and the very important thing Is I do have another 2 different business .
I’m sorry for those truck driver who have to take the cheap loads only they know why .
People never put all the eggs on the same basket .
Good luck and GOD bless everyone.
STAND FIRM CALI WE WANT ARE RATE OR LET IT SIT!!!!
I know I'm insane i have bin doing this over 30 years and its bin the same roller coaster 😅.
Yup nothing new the same old highs and lows that the trucking industry has had for the last 20 years I've been in it.
Any possibility you can include box truck loads?
Same as Dry van. There aren’t as many loads to get data from so use Dry Vans as your point of reference since those can be from 4ft loads to 53ft loads a lot of those fit in my box truck.
@@CallMeLTRwhat do you mean? There is specific categories for box trucks only and specific load boards for box trucks, with partials, they are working great
@@MChicago89 box trucking aint easy its almost a niche
@@MChicago89 yes there are but it doesn’t make sense to look at just box truck loads when you can fit Van loads, hotshot loads, flatbeds, cargo vans, reefer etc. pretty much any type of load can go in a box truck if you use the load board correctly to maximize space using partials. When I watch these weekly run downs I look at the van load rates since most of those can be used in my box trucks.
More trucks entering the market?? That's cuckoo bananas. Only explanation I have is that drivers who have gotten laid off from company jobs have purchased trucks on the cheap and are getting their own authorities. Does the law in California have something to do with this? Hope you have a good weekend as well.
Right on spot !
The small uptick is probably some guys seasonally reactivating MC's and shutting down in winter months.
They are paying 1300 to Chicago from pa crazy
How about 1000 from NJ
Market 😢😢😢
🙏👍
1.87 for dry van?i don't understand how are companies still in business you need like 2.1 to cover your expenses when i was dispatching about a year and a half ago they forced us to make over 2.5,not even gonna talk about the days when there were no HOS regulations and we averaged 5, even though this is my passion it's a good thing i left this industry i would have ripped my hair off(whatever its left of it 😅)
I'm one of those new carriers 👍 just got my authority yesterday over a 6 week process out of CA. In route 😂
Lube or no lube your gonna need it.
Good luck you're gonna need it.
Oh man , that was not important to do....at all...not now....
Worse and worse and worse. I can't believe it continues to be so bad. I can't believe anyone would come into trucking now. And there are too many Carriers accepting CR*P rates. STOP IT! DEMAND MORE!
What are the rejections?
There's contract freight and spot market freight. A lot of freight that ends up on the spot market comes from contract freight that was rejected. Say a mega carrier is contracted to haul 100 loads a week for one particular shipper. If that shipper has 110 that week and the contact carriers can't provide compacity then it goes to the spot market brokers.
Brave , insane or we just dont got any other choice.
Hang in there,it is election year anyway..Keep pushing!!!
If that stuttering guy get reelect we are doom. I bet no drivers will speak English and all illegal CDL migrants , then that s time I will shut down my company. 😂 Let's see what happens at Nov.
@@heydennisha
he will
@@UHaulShorts is that so ? Is that he will ? Or you want he will ?
@@heydennisha
he going 2 get *kept* in whetha u like it or natt
@@UHaulShorts lol if he is so confident to get kept he won't let Clinton and Obama back him up on the same stage to do the clown show. Have some sense 😄 Democrat.
Is there any WhatsApp or Telegram Group for Dispatchers ?
Don’t mention Ontario burning the spot 😂..send everyone too LA traffic
You have major guts. I got out in November. I check on the market with friends and videos from time to time. But I’m less miserable. Don’t miss being stuck out there with no load. Paid off equipment doesn’t solve many things. Not feeling like and old beat up prostitute forced to walk the strip. Is unbearable. I wish you well. Live is to precious to want to work give it you best. Be professional,and still get treated like garbage!!
Me too, parked since Nov.. I check in too, but no real motivation to return
I did the same in October. I saw the writing on the wall.
We are ALL Kookoo Bananas to be in this thankless Industry 🚛 , but it’s our Shitshow and we are gonna play til the cows 🐄 come home ..👍🏼🤪
Ups is making big changes,CEO made an announcement that is not looking good.This lady's net worth is 324 million so she don't care,must be nice!!!
Yup. Stay out of KC
🤣 you crack me up
Her said cuckoo bananas 🍌
Trucking sucks huh 🤢
But yeah…. 🙏👌😎🤗
We're probably all on the coocoo banana spectrum. oh well
You can probably make more doing Uber, Landstar is in the pits too!
I left landstar five months ago I was thinking about coming back but is it that bad
@@ThatOneGuy-hp2pbis worse than 2023 spring. So you tell me 😂. And truck stop is packed left and right every carriers just try to survive or break even. Profit ? Just forget about it😂.
@@heydennisha yikes
When the wife also works as hard as this wife does, it's manageable. Unless ....u know
nice.
Yuma is dead yet
Trucking is in the gutters. Most truckers aren't fighting for higher rates. I can tell you as a broker that I cover my loads within 5 minutes. Brokers don't need to work hard ATM to cover freight. Let's hope Trump gets into office so the economy can recover. Good luck to all!
Then if they don’t fight, fight for them bro since you care so much about truckers. Tell the shippers the truckers need more money. You’d help if you really wanna help.
FY and you orange God Trump!
@@kevinfreyre1576 We do multi stop multi state drops and the shippers constantly fight to lower the rates. I quoted a dry van pickup in Orlando and delivery to Atlanta, then a day layover, pick in Atlanta with re-delivery back to Orlando. Total 4 day load and I'm quoting $1950 and the shipper still arguing with the rate total 900 miles. 🤦
😂. I’d tell him where to put that load.
I wait for higher rates then somebody else books it for a lower rate.🤷♂️ makes no sense
How fix rate? November 5th Trump
He’ll be in prison!!! Hahaha
Bro this ppl think dear leader can fix anything..amazing
@@tmorales7674no Paco Marino, deportation for you
@@tmorales7674lmfao 🤣 keep dreaming heard impeachment papers are being prepared already for when he wins.
@@goofycomputer1234certainly can't be any worse than the shitshow we're experiencing now.
#Trump2024
Hang in there! Trump will be back soon!
Really ? Back to storm the WH and take power by force because hes a loser at the ballot...you MUST be joking...
Who created those maps? If it is based on data, sure you can trust it? I think everything is a manipulation.
Dry van, flatbed and reefer state map created using Truckstop. Everything else is using SONAR. Spot market charts is FTR Intel.
eat daughter eat
don't fall off shape
you are in a 20% or less win vs loss business
you have all the right tools
patience and more meat on the bones
you will never be fat before rich
love the education on the stairway to heaven