The Weekly Report brings you updated data on recruiting metrics including click, search, and spot rates, plus a new story of the week. This week’s story – OEM order control continues to keep trailer orders flat.
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|Spot Rates (Including Fuel)|
|WOW: ▲ 5¢ per Mile|
|Spot Rates (Excluding Fuel)|
|WOW: ▼ 6¢ per Mile|
|Spot Rates by Segment (Including Fuel)|
|WoW: Dry Van ▲ 1¢ per Mile|
|WoW: Refrigerated ▼ 4¢ per Mile|
|WoW: Flatbed ▲ 7¢ per Mile|
|Spot Rates by Segment (Excluding Fuel)|
|WoW: Dry Van ▼ 10¢ per Mile|
|WoW: Refrigerated ▼ 15¢ per Mile|
|WoW: Flatbed ▼ 4¢ per Mile|
|Load Posting Volume|
|WOW: ▼ 7%|
|Load Volume by Segment|
|WoW: Dry Van ▼ 11%|
|WoW: Refrigerated ▼ 8%|
|WoW: Flatbed ▼ 6%|
|WOW: ▼ 1%|
|Truck Driver Searches|
|WOW: ▼ 5%|
|MoM: ▲ 5%|
|YoY: ▲ 19%|
|Clicks on Truck Driver Postings|
|WOW: ▼ 10%|
|MoM: ▼ 18%|
|YoY: ▲ 58%|
Would you like to have your own copy of the trucking industry data? All of the information covered in this week’s report for March 30, 2022, is available for your convenience in PDF form below. Click the image to view and download your copy of the Weekly Trucking Insight.
Hello everyone, welcome back to another edition of the Weekly Report. For Randall Reilly, I’m Joshua Miller. Before we jump into this week’s numbers … if you like the numbers and going over data like this you may want to check out Jason Miller’s latest Trucking Market Update for March. Each month he covers price, supply and demand conditions, and a new “bonus” topic. This month he addresses light truck and SUV assemblies.
The monthly update has a lot of great information in it so, if digging into data and numbers is something you like, check that out if you haven’t already. Links below. Now let’s get to why you’re here. Let’s get to this week’s report.
Truck driver searches were down 5% WoW, but up 5% MoM, and 19% YoY. Meanwhile, click volume fell to its lowest point of the year with declines of 10% WoW, 18% MoM, and an increase of 58% YoY.
Total load postings fell by 7% WoW, which happens to be 11% below the same week of 2021. It looks like we can expect YoY levels to be negative through at least May.
All three major segments saw declines in load volume with dry van dropping by 11%, refrigerated was down 8%, and flatbed fell by 6% WoW. Load availability was down in all regions across the U.S. with the exception of one – the Northeast, where load availability remained flat.
Overall truck availability dipped by 1% WoW as the load-to-truck ratio fell to the lowest level since mid-December, and the load-to-truck ratio was down in all segments.
Spot rates including fuel rose by 5¢ WoW, however, when excluding fuel the rates fell by 6¢. Dry van rates including fuel were up by 1¢ and down 10¢ when excluding fuel. Refrigerated fell by 4¢ when including fuel and 15¢ excluding fuel. And flatbed rates including fuel rose by 7¢ while they fell by 4¢ WoW when excluding fuel.
Trailer manufacturers are closely watching order intake and keeping the numbers relatively consistent from month to month. The February net U.S. trailer orders came in at 27,041 units. That is a 1% increase from January and a 6% increase when compared to February 2021.
While demand for equipment continues to remain strong, OEMs are being careful to meter orders to production levels. Placing orders is especially difficult for small fleets and dealers, as OEMs are prioritizing larger players willing to make larger volume commitments.
OEMs have kept a backlog-to-build ratio in the tight range of between 7.4 and 8.4 months since June. That backlog-to-build ratio will soon push into 2023, where the new model years and pricing commitments could further complicate things.
Reports indicate that fleets are willing to make sizeable orders that would extend well into 2023, but some OEMs are unwilling to push the order board to those extremes.
That does it for this week’s report. Thanks for joining us and don’t forget to head over and check out the latest Trucking Market Update, again links below. If you haven’t already – give us a like and a share. We’ll see you next week for another report covering all the latest data and an all-new story of the week. Until then, have a great week everybody.