SONAR Sightings for July 28: Smaller markets are heating up

Grand Rapids, Michigan

Eleven hundred miles north, Grand Rapids, Michigan, is seeing a surge in outbound volumes that match its highest point since the start of the summer. The Outbound Tender Volume Index has risen 17.3% week over week. Inbound freight is up 10.5% w/w and 35.1% overall since July Fourth.

An increase in both inbound and outbound volumes has resulted in a steady climb in Grand Rapids’ Headhaul Index, which is now 37.5 — its highest score since late April.

With the increased tender volumes, outbound tender rejections have been in a steady range between 10% and 15% since May and are at 12% today, well above the national average of 6.6%.

Kansas City, Missouri

Kansas City remains one of the stronger headhaul markets in the Midwest. Outbound tender volumes are up 37.8% since the Fourth of July. Meanwhile the Inbound Tender Volume Index has remained stagnant, dropping 0.9% w/w. As outbound volumes strengthen while inbound volumes stand still, the widening imbalance between inbound trucks into Kansas City and outbound freight opportunities has moved Kansas City’s Headhaul Index up 14.7% w/w to 20.8 — the highest it’s been since December.

NTI as a point of reference

The National Truckload Index is a daily look at how spot rates in specific lanes hold up in comparison to the national average, giving carriers and brokers an idea of which lanes to gravitate toward or avoid.

Lane to watch: Memphis, Tennessee to Jacksonville

Outbound load volumes in Memphis have flatlined over the past few weeks. If you’re a carrier and looking for a way out, Florida may not be the first destination that comes to mind, but with the freight market popping in Jacksonville, it might be a good choice. Spot market rates in this lane have a confidence score of 4 and are well above the national average. At $3.45 a mile, it’s paying 63 cents above the national average.