Freight Demand Jumps 5% as Spot Rates Hit 52-Week Highs

Freight demand has accelerated sharply, with the SONAR Tender Volume Index climbing nearly 5% week over week to reach 11,600 on November 9th, marking levels not seen since late spring. This demand surge arrives during an already capacity-constrained market, creating compounding pressure on both rates and carrier availability. Van spot rates have reached $3.49 per mile, while the van contract rate per mile hit a 52-week high of $2.85, signaling sustained market tightness rather than a temporary spike.

Tender rejections remained elevated at approximately 13% for the broader market, with flatbed rejections even tighter at 21%, indicating that carriers are selectively accepting loads as demand outpaces available capacity. Less-than-truckload pricing has also climbed significantly, rising from $46.78 per hundredweight in August to $48.98 in October. These dynamics suggest the freight market is experiencing structural tightening heading into the holiday peak season, creating operational and financial challenges for shippers and brokers managing capacity constraints.

Supply chain professionals should expect sustained rate pressure and limited carrier availability throughout the peak period. Fuel prices have moderated slightly but remain elevated on a month-over-month basis, offering modest relief to transportation costs. The simultaneous rise in spot and contract rates indicates this is not a short-term anomaly but rather reflects fundamental capacity constraints that will require strategic procurement and load consolidation efforts.