Canadian spot market dipped 26% in July: Loadlink
The Canadian spot market softened again in July, with loads dropping 26% from June and 11% year over year, Loadlink Technologies reported.
July’s truck-to-load ratio was 3.51, just over 14% higher than the ratio of 3.08 in July 2021. Capacity has grown for a fourth straight month in July, continually recovering from the dramatic capacity strains brought about during the pandemic.
While national averages trend downward, Loadlink’s Posting Index reveals that there are lanes still experiencing growth.
Truckloads shipping across the border from Canada to the U.S. fell by 18% from last month, now culminating in a 20% decline from this time last year. Equipment postings were up 2% year over year, unchanged from June.
Inbound loads fell 38% compared to last month and 17% compared to last July. Equipment postings were up by 2% year over year and 2% from June.
Freight activity within Canada has seen a 17% dip from June, though loads within Canada are still 5% greater than what was seen this time last year.
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Loads have simply moved from the Spot Market back to the Contract Market bypassing Load Link. Freight activity is not down and and if you talked to any Trucking company you would know this. It is very irresponsible to assume Load Link represents the whole industry. They are a good indicator of just the Spot Market.