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National average truckload spot rates rose in July, with van up 21 cents to $2.02 per mile and reefer up 14 cents to $2.29. Spot rates have climbed faster than contract rates since May as COVID-19 disrupts freight networks.
Retail warehouse inventories are rising relative to sales.
Higher trucking costs raise the delivered cost of feed ingredients inland, though the effect on feed futures is modest. Rising inventories point to softer future truckload volumes.
blog.mihlfeld.comMihlfeld, AssociatesJul 24, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
