The Canadian spot market softened again in July, 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 United States 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.
The truck-to-load ratio rose again in July, the inverse effect of the record-setting ratio lows seen over the last two years. The ratio for July was 3.51 available trucks for every load posted. Year-over-year, July’s truck-to-load ratio was 14% higher than the ratio of 3.08 seen in July 2021.
