Freight Rates Continue to Roll [March 2021]

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

Numbers

• Dry Van ended at $2.67 a mile, a three cent decrease from the prediction in mid-March and a twenty-seven cent increase from February.
• Flatbed ended at $2.76 a 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 a mile more than the previous month.
• As an average, the freight rate increased almost twenty-three cents month-over-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.

It is almost hard to believe that it has been approximately a year since the coronavirus pandemic started in March 2020. The trucking industry has rebounded from the start of the pandemic with immense strength. Can anything stop the trucks from getting the job done?

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