Where the freight cycle actually is, in four indicators
Spot rates are at multi-year highs. Tender rejections, contract and tonnage agree. The Cass Freight Index, a broader multi-modal read, has not ye...
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January 15, 2027
$2.00/mi - $5.00/mi
Resolves to the final reported weekly NTI.USA print of calendar 2026, as reported by FreightWaves SONAR. NTI.USA is the all-in national truckload spot rate per mile including fuel surcharge. If SONAR has not reported a weekly print covering the final week of 2026 by the resolution deadline, the most recent prior weekly print is used. In the event FreightWaves discontinues or renames the index, resolution uses the closest available successor metric.
NTI.USA is FreightWaves SONAR's weekly index of national truckload spot rates, expressed as dollars per mile including fuel surcharge. In mid-May 2026 it read $3.41, up roughly 20 cents in seven days. This market resolves to the final reported weekly print of calendar 2026. Year-end spot rates tend to run seasonally elevated by peak-season capacity dynamics. A final-week print below the May reading would suggest that spot rates softened through the back half of 2026. A print at or above the May reading would suggest the 2026 gains held.
Rig Load Report posts linked directly to this market.
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