US Freight Spot Rates Show Mixed Signals: Nationally Elevated Despite Falling Volumes, While Cincinnati Jumps 20% And Miami Plunges 24% Week-over-Week
A Sept. 11 SONAR market update reveals that nationally, US freight spot rates remain elevated despite the Truckload Rejection Index (STRI) falling 9% week-over-week to 13.22% and the Tender Volume Index (STVI) dropping 10%. This indicates carriers retain pricing leverage. However, market conditions vary significantly at the metro level: Cincinnati saw a 20% surge in spot rates, accompanied by a 15% rise in rejections and a 7% increase in volumes, signaling a tightening market. In contrast, Miami's spot rates fell 24%, with rejections down 9.5% and volumes down 17.8%, reflecting clear market softness. Other markets like Detroit (spot rates up 13% but rejections down 14%), Joliet (spot rates down 15%), and Houston (spot rates down 15.4%) also show divergent trends.
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