WEEKLY MARKETFIT UPDATES 10.23.23: FREIGHT MARKET DECLINES IN OCTOBER

MarketFIT, from Express Freight, is the first tool of its kind that allows carriers to use data to quickly identify the most favorable and competitive freight markets in the US.

All of our clients have access to in-depth dashboards on over 125 markets across the US and countless lanes between these markets.

Now, let’s see a snapshot of live data from this week to give you an upper hand as you plan your routes and negotiate rates. Contact us at 877.807.3006, if you’re interested in getting access to the full platform.

Market Highlight: Pendleton, OR

Pendleton experienced the week’s largest market improvement, with the FIT Score increasing 3.24 points from the previous week.

Note: this gain of only 3.24 points is the lowest in recent months, which means the market had a really challenging week last week.

What this score means for carriers:

• Carriers inbound to Pendleton may find an easier time finding outbound freight relative to other markets as outbound tenders currently exceed inbound freight volume.
• Tender rejections of contracted freight are above national averages, indicating more freight may be available on the sport market in the short term.

Market Snapshot: The Market Continues to Ease

This week, we’re seeing the overall market continue to soften from recent highs a few weeks ago.

The US MarketFIT score is now down to 3.32, off from its recent high of 4.23.

If you’ve had a challenging October, you’re not alone. We’ll see if the market can turn a corner in November ahead of peak season.

Lane Rates: Positive Movements out of Chicago Heading East

This week, we’re seeing some positive lane scores in the Midwest, heading out of Chicago to the East.

If you can make it to Chicago, Carriers running these lanes should be able to find slightly more favorable rates.

We’ll keep an eye out to determine if these key markets continue to move in the right direction.

Load Availability & Lane Rates Dashboard

Available to all of our clients is a load board integrated directly into MarketFIT that not only shows you the rates but also helps you find the best available loads quickly.

Below is a highlight of what that data looks like across key markets in the US.

We have data in MarketFIT on 135 critical markets across the entire United States.

MarketFIT, from Express Freight Finance, is the first tool of its kind that allows carriers to use data to quickly identify the most favorable and competitive freight markets in the US.

All of our clients have access to in-depth dashboards on over 125 markets across the US and countless lanes between these markets.

You can learn more about MarketFIT and request a demo by visiting our site.