Economic forces, consumer demand, seasonality, natural disasters and myriad other factors contribute to transport's cyclical market.
The charts below show the latest data on Class 8 truck orders, trailer orders, monthly tonnage, linehaul rates and load-to-truck ratios. We'll update this page frequently as new data is released.
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Trailers
FTR's trailer data covers orders for dry vans, refrigerated vans and flatbeds. Orders for trailers, like the Class 8 orders, signal confidence in the market and anticipation of strong business conditions.
Preliminary trailer orders more than doubled from September to October, totaling 44,000 units and also sharply contrasting with the 16,900 units in October 2021, according to FTR data.
CEO and Chief Intelligence Officer Jonathan Starks said in a monthly report that demand remains robust despite worries of a weak economy. He suggested economic uncertainties in mid-2023 could weaken freight levels and ease new equipment demand.
Net U.S. trailer orders
Tonnage
The American Trucking Associations has been tracking tonnage, calculating the index based on member surveys, since the 1970s. In the chart below, the baseline is 100, which represents conditions in 2015. Tonnage primarily reflects freight movement through contracts versus on the spot market.
The tonnage index was 116.3, seasonally adjusted, in October. That’s a 2.4% decrease from September's index, which ATA revised up to 119.1 from its previous monthly release.
"For-hire truck tonnage saw the largest single monthly decrease in October since the start of the pandemic," ATA Chief Economist Bob Costello said in a monthly report. "The decrease fits with the anecdotal reports of a muted fall freight season. It also coincides with a slowing economy."
For-hire truck tonnage index
Spot linehaul rates
DAT's linehaul rates measure the seven-day weekly moving average for spot rates in dry van, reefer and flatbed hauls. They often reflect the balance of supply and demand in the spot market. The rates are derived from DAT's RateView database and do not include a fuel surcharge.
The national average dry van rate decreased by 1 cent to $1.68 per mile from Nov. 13 to Nov. 19 compared to the previous week, according to DAT data. Reefer increased by 1 cent to $2.05 per mile, and flatbed dropped 1 cent to $1.99 per mile.
Spot linehaul rates
Load-to-truck ratios
Load-to-truck ratios from DAT Freight & Analytics serve as indicators of supply and demand in the spot market. The ratio is calculated based on the number of load posts compared to the number of truck posts on the DAT One load board. Ratio changes can signal upcoming fluctuations in spot rates.
Load-to-truck ratios from Nov. 13 through 19 increased across the board compared to the previous week, DAT reported:
- Dry van increased from 2.1 to 2.4 loads per truck
- Reefer increased from 4.4 to 5.3 loads per truck
- Flatbed increased from 8.3 to 8.8 loads per truck
Dry van and flatbed ratios last week tracked 2019 levels, according to the analytics firm, noting a recurring spot market oversupply in van capacity.
Load-to-truck ratios
Truckload linehaul rates
The Truckload Linehaul Index from Cass Information Systems measures per-mile linehaul rates. In the chart below, the baseline is 100, which represents conditions in 2005. Rates fluctuate as a result of supply, demand and balance (or a lack thereof) in the market, but they also include factors such as fuel prices and insurance costs.
The index decreased to 153.9 in October from 156.2 in September, a 1.5% decline but still 2% above October 2021, Cass reported.
The decline follows an even greater dip in September of 2.2%, and the index is expected to continue to slide.
"As a broad market indicator, this index includes both spot and contract freight, and with spot rates already down significantly, it's only a matter of time until the index begins to decline on a y/y basis (December isn’t out of the question)," Cass stated in a monthly report.
Truckload Linehaul Index
Class 8 orders
Preliminary Class 8 orders fell from 56,500 units in September to 43,200 in October, FTR said.
Despite the month-over-month dip, orders surged 77% YoY, showing a "tremendous amount of pent-up replacement demand in the market due to the constricted production environment of the past two years," FTR wrote.
