How SONAR data can take you through the highs and lows
The freight markets are volatile and understanding how they change can sometimes be difficult.
Market trends through the last six months were heavily influenced by the COVID-19 pandemic and changes in consumer behavior that have carried over into the start of 2021.
However, we are slowly starting to see a return to seasonable patterns in the markets and contract bidding season is getting the freight markets on a roller-coaster-like pattern.
Luke Falasca and Kyle Taylor break down some of the data that indicates the return to seasonality, like dropping spot rates and tender rejections, in this episode of #WithSONAR.
Using FreightWaves SONAR data, they highlight what the ups and downs of the market can mean for your business and talk about the key things to look for as you are setting up contract bids for the 2021 season.
Other FreightWaves analysts have pointed to the idea of “mini bids” so shippers aren’t locked in to one rate all year as the market changes. Falasca and Taylor discuss how those contracted lanes contribute to the market volatility, pushing some lanes higher while dragging others down.
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