Chicago’s freight market is highly representative of the national average freight trends. Outbound tender rejections are seeing little deviation week over week, less than one percent, and the OTRI is right in line with the national average of 9.94%, with 10.63%.
Demand is coming back online in a meaningful way as outbound tender volumes have risen 9.53% w/w. Sluggish demand, something that the rest of the freight markets have also experienced.
Spot rates are on the rise as both OTVI and OTRI are increasing. Chicago will continue to be a snapshot of the broader freight market. Those smaller markets will see greater swings, but for the most part, the largest freight markets will see limited impacts to spot rates as operations get underway for the new year.
