Logistics Industry Speeding Up in 2024

The February 2024 Logistics Managers' Index (LMI) report shows that the logistics industry continues to expand, with strong growth in the transportation and warehousing sectors. Transportation prices held steady, transportation capacity increased, and inventory levels increased significantly.

Warehousing capacity decreased slightly, but utilization increased moderately, while warehousing prices remained steady. Respondents remained optimistic about future conditions, with the future LMI index predicted to rise to 61.8 in the next 12 months.

#TruckingBusiness #FebruaryLMI #logisticsindustry

Link to the February 2024 LMI

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[texwilliams]

AFT helped me get $5463 this week @ $2.34 per mile. For the month they have provided dispatch support where I have driven 4155 miles, grossed $12, 289 at $2.99 per mile. Thanks to Andy, an amazing partner. And special thanks to V, who has his pulse on the market conditions each week. Thank you so much for the updates!

[DD]

30 miles deadhead for the whole work week is incredible.I usually average that per load.

[Not-by-sight]

Does secretary of transportation BOOTY JUICE get any credit I hope not

[Parasefvirte]

Time to start trucking again, but I think brokers will keep the rates low now that they know someone will haul for cheap

[jameswest]

I'm not seeing an improvement. Money is still down.

[robertstevens]

Do you do state dispatch for Florida?

[Livestockhaulin]

We shall see what the FED does. Labor market is softer, but still resilient. Inflation is coming down overall, but from month to month we see inflation going up and the down. The biggest factor is energy & food. That’s not budging at all, but everything else we tie into inflation is actually decreasing. FED believes 5.5% is the set number and we don’t need to go higher. Look at the financial markets. Investors are risk on at the moment. They don’t fear a recession. Bitcoin is at 60k+. Stocks are up. DXY is weakening. No more fear & uncertainty with market sentiment. Unless the wrong side gets in office better days are closer than we think. At least that’s my analysis on our economy right now. It’s been 4 years since the vid 19. 3 years since they uplifted the lockdown. We are on the road to recovery. But depending on who’s elected will determine more doom or new gloom. Now, the only thing to be weary of is when the FED rate starts decreasing will inflation jump up even higher than what it was after the vid 19? That’s the FEDs biggest fear. As Chairman Powell continues to reiterate time and time again. On top of “we have yet to see the full effects of the FED rate being at restrictive levels.” If we keep seeing more job cuts it’s gonna be another tight year for those that don’t have their ducks in a row. Once they fix inflation they’ll turn their focus back to full employment. At that point we should be back to the median of rates for loads if not slightly above or below. $1.50-$3.50 a mile industry when it comes to general freight. It’s been like that since my Grandpa drove trucks. If your break even is more than $1.50 when things get tough you’re screwed. As an O/O get all your endorsements & haul multiple trailers. Should at least have 3 trailers for one truck at any give time. Our bread & butter, plus 2 trailers for seasonality hot loads. Plus, trucking is about moving loads in volume not so much gettin the best rates. Even tho gettin top dollar is what we all want. Businesses stay alive by keeping cash flow available at all times. We go into business to create an asset & reap the benefits of an entity. Get more equipment, open a brokerage, become a freight forwarder, dispatch carriers, lease on other O/O, etc…gotta go all in or suffer the consequences of being a 1 truck show. These 3pl carriers are monopolizing the industry right before our eyes because the 1 truck show only knows how to drive the truck. They don’t understand economics nor business. Most of these guys are utilizing the business money for personal usage. Instead of knowing they’re the employer & employee. Set up ADP payroll with the bank & put yourself on W-2. Then live off that company driver salary. If they did that they would be downsizing. Turning in the hellcat for a for a paid off car, giving up the high rise for residency outside of metropolitan areas where the cost of living is much cheaper. That salary will help em realize they can’t afford the finer things and the business would now have cash flow on deck for break downs and motor rebuilds. That 7k gross at the end of the week is for the truck. The operator didn’t make all the money. The truck did. The operator only held the steering wheel and shifted gears. That does not require compensation of the entire gross after all expenses. The truck 10 expense tires that can blow at any moment. The truck is constantly pulling 5k-45k lbs around on a non stop bases. The truck works even harder when it has to haul the weight & climb up the mountain. Then the truck has 2 100 gallon tanks that need fuel to even operate. So, why mess off all the truck’s hard earned money because you’re the operator? By law a business is a person(entity), so why are drivers robbing the truck of its money? Getting tired of hearing these drivers sob over YouTube for running a poor operation. Logistics has been great to us all from the carrier, to the broker, dispatcher, mechanics, DOT, etc…judging by your client’s gross. Looks like trucking is still paying when you know what you’re doing.

[Talore-Evans]

This is good news. From Oct 2023thru Dec 2023, I did a bit over 31, 000 paid miles and got my employer's quarterly bonus.

[shapegifter]

Please what do I need foe the lease programs by the way my credit score not good

[ismaelgarza]

Let’s be real
Donner pass affected a small pass through west coast

Polar vortex affected the whole Midwest
Expanding all the way to the south
That part of the country was basically shutdown