As regular readers will know, April 1 marked the end of the “soft enforcement” period of the ELD mandate. That means that trucks can now be placed out of service if they don’t have an ELD installed. Before the deadline, DAT surveyed 645 carriers and found that 91 percent were already compliant with the new regulations. As a result, the April 1 deadline hasn’t had a big impact on the spot market so far. In fact, even with the tighter enforcement of the regulation, capacity loosened last week, meaning that there were more trucks posting their availability on the spot market.
That seemed to have a moderating effect on freight rates as a general rule.
Reefer hot markets: We’re entering peak season for Florida, and rates were up 4 percent out of both Miami and Lakeland. Several lanes out of California also paid better: Fresno to Seattle surged to $2.95 per mile on average, and Sacramento to Denver jumped 30 cents to an average of $2.68 per mile.
Not so hot: Some scattered falling prices: Elizabeth, N.J., to Boston fell 33 cents to $4.18 per mile. Chicago to Atlanta was down 28 cents to $3.03, and Atlanta to Philadelphia dropped 25 cents to $2.63.
Van hot markets: Dallas had the highest load counts, while Stockton, Calif., had the biggest improvement in volumes. No markets were up last week from a pricing standpoint, but almost all of the major markets are up from a month ago.
Not so hot: The one exception on the top six markets was Los Angeles, where load counts declined. Outbound rates from Buffalo, N.Y., fell the most. In Texas, prices adjusted to the higher volumes out of Dallas, with rates from Houston to Dallas down 16 cents per mile on average.