FreightWaves founder says truckload spot rates ‘explode’ to 3.50/mile

FreightWaves founder Craig Fuller said via X, formerly Twitter: “Truckload spot rates on the daily chart have exploded to $3.50/mile. This is $.41/mile higher than a week ago and a new cycle high, moving close to all-time highs ($3.68/mile). While this relates to Roadcheck week, the message is clear: capacity is at its tightest levels in years.” Publicly traded companies in the space include ArcBest (ARCB), J.B. Hunt (JBHT), Knight-Swift (KNX), Old Dominion (ODFL), Saia (SAIA) and Werner (WERN).