FTR Shippers Conditions Index showed significant improvement in October

FTR’s Shippers Conditions Index (SCI) made more gains into positive territory in October rising to a reading of 4.3 from September’s 0.35. The most significant improvement was reversal of the surge in diesel prices, but all major factors were at least marginally more favorable in October.

Avery Vise, FTR’s vice president of trucking, commented, “Overall market conditions for shippers in October as measured by the SCI were the most favorable since June, but swings in fuel costs largely have been the variable month to month. Key freight dynamics – rates, utilization, and volume – have been mostly stable over the past several months and look to be so for at least a few months of 2024. After the boosts from falling diesel prices in November and December 2023, we expect market conditions for shippers to soften gradually, but we do not foresee significantly negative conditions during the forecast horizon.”