Bad weather and trade concerns are weighing on the U.S. freight market
Demand for moving consumer products, industrial parts and other goods has been pulling back, according to experts and some industry measures. Photo: Joe Raedle/Getty Images By Jennifer Smith May 24, 2019 5:30 a.m. ET
Prices on the spot trucking market, where businesses book last-minute transportation, were down 16% in April compared with the prior year, according to online freight marketplace DAT Solutions LLC. “I think we’ve got enough freight in the pipeline to feed us through Fourth of July weekend,” said Mark Montague, DAT’s senior pricing analyst. “I’m really afraid it could fall off in July and August,” he said, if shipping volumes fail to pick up in June and no trade deal materializes.
“The environment is really uncertain,” Ms. Landry said in an interview. At a recent rail shipper conference, she said, “the common phrases I heard over and over were, ‘We’re going to wait and see what happens’ and ‘I hope we don’t talk ourselves into a recession.’” Newsletter Sign-up At Knight-Swift Transportation Holdings Inc., the largest truckload carrier in North America, first-quarter adjusted operating income jumped 15% compared with 2018. But tractor productivity fell, and the company cut its overall profit outlook for the second and third quarters.
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