With the help of Jim Tennant of The Tennant Group and Michael Meyer of Rate-Highway Inc., we are conducting rate surveys on a weekly basis and providing analysis and comments where appropriate. We publish this monthly recap in our electronic edition and more comprehensive looks in the print editions.
After two months of significant rate quote increases over the previous year, October was down $0.65 or about 1.5%. Rate quotes had been up every week since late July, but the trend turned almost flat in the last week of September.
Rates turned down for the middle two weeks in October, but they were up again the last week of the month. Our comment last month that caution is called for — in terms of the weekly rate trends — still stands.
Rates in the Northwest were down a significant $8.42 from last year, but the other four regions were relatively flat in October.