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Zach Strickland, FW Market Expert & Market Analyst

Zach Strickland, the “Sultan of SONAR,” curates the weekly market update. Zach is also one of FreightWaves’ Market Experts. With a degree in Finance, Strickland spent the early part of his career in banking before transitioning to transportation in various roles and segments, such as truckload and LTL. He has over 13 years of transportation experience, specializing in data, pricing, and analytics.
Jul - 2019 -
27 July
Zach Strickland, FW Market Expert & Market Analyst

California’s spring produce season winds down, a shadow of previous two years

California’s produce shipments can wreak havoc on trucking capacity in the spring. This year’s season was s shell of the previous two.

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20 July
Zach Strickland, FW Market Expert & Market Analyst

Trucking spot market underperforms expectations by 10% in June

The volatile 2018 freight market is still being felt throughout the nations trucking industry. The freight futures settlement

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13 July
Zach Strickland, FW Market Expert & Market Analyst

July diesel tax increase squeezes small carriers in the Midwest

Diesel prices jumped in the Midwest this month due to a significant tax increase. Small carriers will have to adjust to keep costs down and maintain business.

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Jun - 2019 -
29 June
Zach Strickland, FW Market Expert & Market Analyst

Trucking rates have fallen back to 2017 levels, but costs have not

Spot rates have fallen back to where they were two years ago. The problem for carriers; their costs have not.

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28 June
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: Seasonal peak arrives on schedule, but still disappoints

Freight volumes may have peaked for the season, but it certainly doesn’t feel that way. There is still a lot of uncertainty for Q3 as we close a disappointing Q2.

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23 June
Zach Strickland, FW Market Expert & Market Analyst

Freight Market Moneyball

Michael Lewis wrote “Moneyball” about the tactics Billy Beane used to improve the Oakland A’s. Read Zach Strickland’s take on using moneyball tactics in the freight market.

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22 June
Zach Strickland, FW Market Expert & Market Analyst

Reefer carriers weathering softening market more efficiently than van

Reefer carriers are weathering the cooling freight market more efficiently than two of the main trailer types. An interesting data point supports this claim.

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20 June
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: Reefer volatility keeps the freight market interesting

The demand for temperature controlled equipment is keeping the freight market active for reefer carriers and produce haulers, but general volumes continue to slide off 2018 highs.

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11 June
Zach Strickland, FW Market Expert & Market Analyst

FreightWaves SONAR platform now has Drewry’s world container indices

International shipping has become one of the largest drivers of domestic shipping volumes in the United States over the past several years. Knowing when and where container volumes are moving […]

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08 June
Zach Strickland, FW Market Expert & Market Analyst

Border town wait times explode prior to tariff announcement

FreightWaves’ SONAR chart of the week (June 9, 2019 – June 15, 2019) Chart of the Week: Wait Time (El Paso, Laredo) (SONAR: WAIT.ELP, WAIT.LRD) International trade has been a […]

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06 June
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: Roadcheck tightens capacity

The last month has been like Mr. Toad’s Wild Ride for the freight market. Starting with the Trump tweet about increasing tariffs on Chinese goods another 15% in early May […]

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01 June
Zach Strickland, FW Market Expert & Market Analyst

International Roadcheck Week – Haul freight or take a vacation?

Last year, carriers avoided hotspots for vehicle inspections during CVSA’s Roadcheck week. Now the market has turned, so has their attitude about these areas.

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May - 2019 -
25 May
Zach Strickland, FW Market Expert & Market Analyst

Capacity loosens as Memorial Day weekend hits

Capacity normally tightens into the holiday weekend, but this Memorial Day is nothing like the previous years.

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23 May
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: The sky may have fallen

Volumes took a nosedive after the tariffs increased and are starting to recover slightly, but the damage may already be done.

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16 May
Zach Strickland, FW Market Expert & Market Analyst

Tariffs force shippers to take a pause

The trade war between China and the U.S. is having a noticeable impact on freight markets. Shippers and carriers are struggling to adapt.

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15 May
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: Freight volumes take a surprising mid-month drop

Freight volumes should be increasing heading towards Memorial Day weekend, but they are headed the other direction as shippers take a pause over tariff concerns.

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09 May
Zach Strickland, FW Market Expert & Market Analyst

LTL is insulated but not immune to freight market volatility

The relationship between truckload and less-than-truckload (LTL) is like two cities positioned around the epicenter of an earthquake.

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05 May
02 May
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: Volumes recover from Easter slump, but not all loads are created equal

Freight volumes recover from Easter lull as volumes are flat from a year-over-year perspective. Comparing load volumes is not the whole story, however.

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Apr - 2019 -
26 April
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: Volumes take a pause for Easter

National freight volumes took a nosedive this week as Easter had a decent impact on the freight market, but how much of the drop is related to the holiday?

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19 April
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: Volumes stable, capacity has a hiccup

Volumes are flat year-over-year, and after a brief period of disruption the freight market has stabilized. Container volumes that have fueled the port cities freight, may be due to soften in the coming months.

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07 April
Zach Strickland, FW Market Expert & Market Analyst

Capacity is still being added to the market long after it has cooled

Capacity is still being added to the market. Truck orders numbers for both new and used models support this.

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04 April
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: When will the West Coast bubble pop?

Market volumes remain strong from a year-over-year perspective, driven by the continued strength of the West. What does this imbalance mean for the freight market as the busy season approaches?

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Mar - 2019 -
31 March
Zach Strickland, FW Market Expert & Market Analyst

Specialty stores and electronic retail tops the list for longest dock times

Specialty retail and electronics retail stores are the least efficient loading and unloading docks for carriers according to FreightWaves latest index.

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28 March
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: West Coast still pulling freight market weight

L.A. volumes are propping up national freight volume but starting to fade. Are there any signs of another region emerging to take over for the West Coast?

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17 March
Zach Strickland, FW Market Expert & Market Analyst

Shippers return to their old ways of detention as carrier compliance increases

After a period of attempting to improve detention times with carriers, they appear to be falling into the old habits of making load/unload times are lower priority according to FreightWaves’ Detention Minutes Index.

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14 March
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: Freight volumes move the opposite direction of the clocks

National freight volumes pulled back a bit this week after a strong start to March. Not all areas of the country are having the same experience.

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10 March
Zach Strickland, FW Market Expert & Market Analyst

Los Angeles freight volumes are the highest in the U.S., but carriers beware

Los Angeles has had the heaviest freight volumes in the U.S. for the past several months, but carriers should be paying attention to where that freight is headed.

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07 March
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: March volumes arrive on schedule, capacity remains loose

Volumes have jumped to seasonal levels, but capacity has not been significantly impacted yet. Will March volumes change freight market conditions?

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03 March
Zach Strickland, FW Market Expert & Market Analyst

National freight volumes almost even year-over-year, capacity remains loose

National freight volumes are flat year-over-year, but capacity is as loose as ever. What is driving the discrepancy?

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Feb - 2019 -
28 February
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: Volumes surge to highest levels in two months on active West Coast

Market volumes have increased significantly over the past several days, bringing national levels to those similar to early March of 2018 when the market was thought to be more active. The data tells us one aggregate value cannot tell the whole story.

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24 February
Zach Strickland, FW Market Expert & Market Analyst

Spot market drives carrier revenues higher in 2018

Increasing spot rates lead carrier revenues in 2018, will revenues start to fall now that rates have started to come down again?

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21 February
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: Volumes slide under previous year values as spring approaches

The overall market remains relatively stable as volume dip below 2018 levels in two major markets. Spring is around the corner. Will freight volumes return with it?

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17 February
Zach Strickland, FW Market Expert & Market Analyst

Freight market normalizes after tumultuous 2017-18

National spot rates have been flying high for the past year, but have only recently fallen under previous year values as illustrated on FreightWaves newest charting feature.

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13 February
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: So far, so February

So far this February has been what we would expect. Does the normally slow month have any surprises up its sleeves?

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10 February
Zach Strickland, FW Market Expert & Market Analyst

Atlanta to Philadelphia spot rate lowest since February of 2016

Atlanta to Philadelphia’s spot rate has hit its lowest point in 3 years. The absolute rates may be similar, but the freight markets could not be further apart.

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07 February
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: Has the freight market bottomed?

Volumes and capacity remain flat through the first week of February. Has the freight market weathered the slowest part of the year?

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03 February
Zach Strickland, FW Market Expert & Market Analyst

Boston vs. L.A.: Backhaul versus headhaul

The two Super Bowl teams and their fanbases are very different, just like their freight market identities.

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Jan - 2019 -
31 January
27 January
Zach Strickland, FW Market Expert & Market Analyst

Spread between retail and rack diesel price could compress carrier margins in January

The DOE fuel price keeps sliding as wholesale or rack prices are increasing. This can have a negative impact to carrier margins in early 2019 after receiving the benefit of expanding fuel spreads in late 2018. SONAR’s newest index can help you monitor this.

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23 January
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: Largest single day drop in freight volume since Spring of 2018

Last week had the largest single day percentage drop in volume since March of 2018. Capacity remained stable as we ride out the winter doldrums.

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20 January
Zach Strickland, FW Market Expert & Market Analyst

Air Cargo rate from Hong Kong to North America correlates with single North American trucking lane rate

How can air cargo and dry van spot market rates be related? Could the movement of these two seemingly unrelated rates provide more evidence the market is slowing?

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16 January
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: Capacity abounds as volume flattens

Capacity is abundant even though volume is relatively strong. Carriers are having little trouble covering the available freight making it a shippers’ paradise in mid-January.

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13 January
Zach Strickland, FW Market Expert & Market Analyst

Purchasing Managers Index drops; shipment volumes next?

The falling Purchasing Managers Index tends to be correlated with the general freight market, the Cass Freight Shipment Index illustrates this. Is it time for carriers to pull back?

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09 January
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: New Year starts with strong volume

The New Year has started off with a surprising amount of volume in the freight market. So far, capacity has been available to handle it. The tariff deadline extension may be providing a second wind.

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06 January
Zach Strickland, FW Market Expert & Market Analyst

Intermodal volumes post record 2018 on heels of tariff concerns

Record intermodal shipments on the rail for the second year in a row has deep implication for the trucking market into 2019. Trucking will benefit, at least partially, from Norfolk Southern’s latest decision.

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Dec - 2018 -
30 December
16 December
Zach Strickland, FW Market Expert & Market Analyst

Freight volume drops 2% on average from spring levels, but capacity is plentiful

The freight market has softened significantly in the last few months, but it is not due to a drastic reduction in volume.

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12 December
09 December
Zach Strickland, FW Market Expert & Market Analyst

Spread between diesel wholesale and retail price jumps 41% in 2 months

The big oil news of the week was OPEC deciding to cut production in an attempt to stop the price of oil from dropping further. Carriers should be happy with this in the long run but gained a short term boost to margins in the meantime.

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05 December
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: Capacity is plentiful in most of the U.S. as L.A. market loosens

Capacity is readily available in most regions of the country. Los Angeles has finally cooled off as the tariff deadline gets extended.

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02 December
Zach Strickland, FW Market Expert & Market Analyst

Spot rates more volatile in a cooling market

The spot market has been cooling over the past several months, but the players seem more uncertain than ever.

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Nov - 2018 -
29 November
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: Markets stabilize after pre-holiday run

Freight activity surged prior to Thanksgiving with help from Los Angeles volume. Drivers returned to the road this week, and carriers have figured out where to position their trucks to alleviate some tightness.

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25 November
Zach Strickland, FW Market Expert & Market Analyst

Oil price drops rapidly, but this is not a good thing for truckers

The benchmark price of domestic crude oil has dropped by 25% since early October. Historically, that would be a great thing for truckers, but with carriers operating more efficient trucks and oil production tied into the freight economy more than ever, it could be a warning sign for the broader freight market.

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18 November
Zach Strickland, FW Market Expert & Market Analyst

Capacity shrinks due to lower supply, not increased volume

With the Thanksgiving holiday approaching, drivers are spending less time on the road and more time at home. This is shrinking the availability of capacity in the market.

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11 November
Zach Strickland, FW Market Expert & Market Analyst

Ontario, California dethrones Atlanta as largest outbound market

Ontario California has toppled the Atlanta market, the reigning capital of freight volume in the country. Surging volume is to blame. How long will the elevated volume last?

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08 November
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: All’s not quiet on the western front

The freight market remains slow in most parts of the country except for one. Will it spill into other regions?

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03 November
Zach Strickland, FW Market Expert & Market Analyst

Shippers respond to volatile market by increasing lead times in the second half of the year

Lead times increasing are a sign that shippers are taking capacity shortages seriously. Carriers and brokers that depend on spot market freight are left wanting.

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Oct - 2018 -
31 October
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: Are the markets tricking us into thinking they are turning?

The freight market is showing the first signs of turning in over a month. Is this the start of retail season?

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27 October
Zach Strickland, FW Market Expert & Market Analyst

East coast containers running at a discount due to overwhelmed west coast ships

East coast bound containers from China are getting a pre-holiday discount as shippers increase volume to North America in front of tariff increases.

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24 October
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: is this the calm before the storm?

The freight market continues to stabilize, but there should be a little fuel left in the tank for one more seasonal push before the holidays.

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21 October
17 October
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: A tale of two Octobers

October of 2018 has been very different from the same month a year ago thus far. We have had 2 major hurricanes make landfall and the economy is still strong. So why does it seem so different?

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13 October
10 October
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: Volume continues to fall as Michael bears down on Florida Panhandle

Truckload volume continues to decline to annual lows after the first week of October. Freight volume is redistributing out west as Michael hits the Southeast U.S.

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06 October
Zach Strickland, FW Market Expert & Market Analyst

Volume drops 6% in the first week of October: Time to panic or take a closer look

Trucking volumes have dropped by 6% since the beggining of the month of October. Is this an indication that the market is slowing or is it a normal seasonal pattern?

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03 October
Zach Strickland, FW Market Expert & Market Analyst

Weekly market update: Freight volume declines to lowest level since April

October is traditionally a slower month than the 4 preceding it in terms of volume. This year it has happened as soon as the calendar turned. This seasonal swing does not mean it will be a quiet fourth quarter for everyone.

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Sep - 2018 -
26 September
Zach Strickland, FW Market Expert & Market Analyst

Capacity increases keeping spot market moderated for now

There is plenty of evidence for increased capacity in the freight market. Volumes are higher than they were in March when the spot market was considered more volatile.

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22 September
Zach Strickland, FW Market Expert & Market Analyst

Freight activity out of the North Carolina coast drops by more than 60%

Hurricane Florence has practically shutdown any outbound trucking activity out of the North Carolina coastal market

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19 September
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: Florence has regional impact on freight markets; remain relatively flat nationally

The full brunt of Florence has yet to be felt in the freight market, but there was plenty of regional impact as carriers and shippers scrambled over the past week to mitigate damages.

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12 September
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update: Hurricane Florence Edition

Hurricane Florence bears down on the Carolinas. Freight markets are reacting before the first rain drops have fallen.

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08 September
Zach Strickland, FW Market Expert & Market Analyst

No walking in Memphis: the city is the #1 headhaul market in the U.S.

Truckers are not singing the blues in Memphis (except on Beale Street): It’s currently the number one headhaul market in the U.S.

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04 September
Zach Strickland, FW Market Expert & Market Analyst

One year after Harvey, tropical storm Gordon threatens Gulf Coast

One year later the memories of Harvey are still fresh. With the peak of the Atlantic hurricane season approaching the first real tropical threat to the U.S. mainland is targeting the central Gulf Coast with flooding rain and storm surge potential.

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Aug - 2018 -
31 August
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update – Unofficial end of summer and freight doldrums?

It looks like the freight market is waking up from the long running summer doldrums, or is it just a byproduct of the pre-holiday shipper procrastination.

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25 August
Zach Strickland, FW Market Expert & Market Analyst

Truckload turndowns currently at 2018 low: Is the bottom in?

Carriers and brokers have been talking about how slow August has been. Good news: According to our technical indicators, the market is about the turn back in their favor

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22 August
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update – Volumes fall as market flattens

Volume falls this week in the freight markets but rejections are flattening indicating there are still some spots where capacity is an issue.

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18 August
Zach Strickland, FW Market Expert & Market Analyst

The top five trucking markets represent 18% of all U.S. domestic volume

The top five trucking origin points represent 18% of the volume in the freight market, according to a new index added to SONAR this past week

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15 August
Zach Strickland, FW Market Expert & Market Analyst

Freight Market Update 8.15.18 – Volumes steady while capacity stabilizes

This week’s freight market continues the same patter toward stability, but volume remains steady as we move towards a more volatile time of year.

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11 August
Zach Strickland, FW Market Expert & Market Analyst

San Francisco outbound freight volumes continue to climb driven by Tesla

Tesla’s auto production in Fremont and high container volumes out of Oakland are driving demand for trucks in the San Francisco market

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Zach Strickland, FW Market Expert & Market Analyst

San Francisco outbound freight volumes continue to climb driven by Tesla

Tesla’s auto production in Fremont and high container volumes out of Oakland are driving demand for trucks in the San Francisco market

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04 August
Zach Strickland, FW Market Expert & Market Analyst

Wall Street traders panic. SONAR data shows why they are wrong.

Wall Street is in a panic over fears that the truckload sector has peaked. Wall Street is wrong. We break down the reasons using data from SONAR.

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Jul - 2018 -
Zach Strickland, FW Market Expert & Market Analyst

Freight market continues in summer slump

Tender rejections continue to fall towards the May 2nd low, indicating that capacity is loosening in the market. If it reaches the critical level of 19.12%, it could mean that the rest of the summer will be disappointing for carriers that reported a bullish summer outlook.

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25 July
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update 7.25.18

Freight markets continued to cool last week, but have stalled for the moment. Isolated markets showed increased activity around the international borders. What we should be looking at moving forward as we move into August?

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22 July
Zach Strickland, FW Market Expert & Market Analyst

July trucking market off to a slower start

July has started off slower than carriers would like, showing normal freight patterns. Softer demand is also impacting utilization in the market.

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18 July
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update 7.18.18

The freight markets continue to cool, but looking at the bigger picture provides perspective on what to expect moving forward.

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15 July
Zach Strickland, FW Market Expert & Market Analyst

Nearly 30% of trucks went off-duty for July 4th: SONAR chart of the week

Holidays have a huge impact on the freight markets, with drivers going off-duty and altering their work schedules. In this chart of the week, we examined how different holidays impacted available capacity.

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10 July
Zach Strickland, FW Market Expert & Market Analyst

Weekly Market Update 7.11.18

The freight markets took a slight break in the last few days, but this is nothing new and is not a sign of a turning market…yet.

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Zach Strickland, FW Market Expert & Market Analyst

Volatility on container prices out of China to the North American West Coast

The Freightos Baltic Container Price Index shows the volatility of container prices out of China to the North American West Coast as importers try to adjust to a new era of global trade.

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09 July
Zach Strickland, FW Market Expert & Market Analyst

Freight volume is the highest in over a decade: Cass Shipment Index

The Cass Shipment Index (CFIS.USA) is showing freight market volumes that are nearly as strong as the 2006 peak season. This is a bullish sign for the second half of 2018.

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05 July
Zach Strickland, FW Market Expert & Market Analyst

Weekly Freight Market Update 7.5.18

With the second quarter of 2018 coming to an end this past Saturday, we saw tender rejections spike to their highest level since January at almost 27%. Major markets like […]

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Zach Strickland, FW Market Expert & Market Analyst

Weekly Freight Market Update 7.5.18

The end of the second quarter was explosive in terms of freight market activity. Rates expanded as carriers refused loads. July typically sees volumes fall a bit in relation to June. There is no reason to think it will be indicative of any long run contractions in rates.

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Jun - 2018 -
19 June
Zach Strickland, FW Market Expert & Market Analyst

Today’s Pickup: Digital brokerage app lacking traction, freight markets still volatile

Digital trucking apps have a hard road to gaining traction, while the freight markets are not phased by tariff talks, yet.

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