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Thursday, September 28, 2023

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March 2021: Freight Rates Close to Predictions

While the numbers deviated slightly from the estimate from the middle of March, the massive jump in rates for all three forms of freight held mostly steady.

The Numbers

  • Dry Van ended at $2.67 per mile, a three cent decrease from the prediction in mid-March and a twenty-seven cent increase from February.
  • Flatbed ended at $2.76 per mile, a six cent decrease from what was reported by the DAT in mid-March, but twenty cents higher than February.
  • Reefer hauling was $2.94 in March, a one cent decrease from projections, but twenty-five cents per mile more than the previous month.

Part of this increase can be attributed to an increase in diesel fuel costs, of course, but most of it is directly due to our old friends supply and demand. The trucking industry has mostly been on a hot streak since at least August.

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