While contract and spot prices in the transportation industry have been narrowing, there's still a significant gap between the two, as pointed out by Adamo.

DAT Freight & Analytics reports that truckload freight volumes and spot rates remained steady in June, while contract rates reached their lowest levels in nearly two years.

Spot market freight rates and volumes experienced a decline during the Independence Day holiday week, according to the Truckstop system.

Spot rates for van equipment increased in line with seasonal expectations, while flatbed rates experienced a slight decline for the fifth consecutive week, although not as steep as in previous weeks, according to a report by Truckstop and Freight Transport Research.

A decline in freight trucking rates generally means that the demand for trucking services is weaker than the supply of available trucking capacity.

After historically high freight rates in the maritime shipping industry clouded the sector while consumers panic-bought everything from furniture to toilet paper during the pandemic years - the rates have finally cooled off.