When Will Trucking Rates Go up?

For 2021 as a whole, FTR is forecasting spot rates to be up about 27% over last year. Looking ahead, FTR expects spot market rates to ease in 2022 but still be very strong. “By the end of next year, spot rates should still be running higher than they were even at the peak of the market in 2018.”

Are freight rates going up?

The higher costs are expected to last at least through the end of the year, the Journal said. US freight demand rose 3.4% in March from February, as trucking costs rose 6.5%, almost twice the rate, the paper reported, citing data from Cass Information Systems. Rising freight costs have been a problem since last year.

Will freight rates go up in 2021?

Truckload Forecast: Freight Rate Increases Continue

Given ongoing capacity constraints, the truckload market will see rates continue to increase for at least the first half of 2021.