When the OOIDA Foundation surveyed its members about their use of freight market economic analysis and information from DAT, FreightWaves and similar services, half said they did not use it, while 19% didn’t even know this information was available.
That doesn’t necessarily mean members don’t want this information, however.
In fact, 93% of the members surveyed say they are very interested in this type of data.
“A lot of people wouldn’t even know where to start, but a large majority said they would be interested in this, and that’s why we’re starting this new series,” said Andrew King, research analyst for the OOIDA Foundation. . Land line now.
Understanding the current and future state of the freight market is extremely important for an owner-operator to be successful, says the Foundation’s website.
This is a challenge in itself, as the Foundation explained, because much of the economic information available to drivers is expensive or too difficult to find.
To help its members keep up to date with the state of the market, the Foundation has developed its own free Market Update.
“It’s aimed at owner-operators and breaks it down by segment,” King said. “If you didn’t have time or didn’t want to watch everything, and you were someone pulling a dry van or maybe pulling a platter, you could just watch that market.”
Below are the five key markets to be updated monthly in an individual document for your convenience:
- Overall trucking market
- Pickup truck market
- flat market
- Refrigerated market
- Global freight market
You will also have the option to view all five markets in a single market update document.
However, OOIDA members are not the only ones who can use this information on the freight market
“It’s open to anyone,” King said. “That’s something our former president Jim Johnson was big on, education. He wanted to make sure everyone had the opportunity to access this information. It’s also an awareness tool to show that OOIDA offers many things that benefit members or potential members and hopefully encourage them to want to join the Association.
Essentially, the Foundation does a lot of the work that you may not have the time or insight to do.
“The great thing about it is that it’s all rolled into one,” King said. “We pull from a lot of different sources. Rather than someone having to search hundreds of different pages, we put it in one place and summarize it in an easy-to-understand way.
How freight market data applies will vary depending on what you are transporting or not.
“You really have to be flexible in trucking to be successful,” King said. “Things can turn around in the blink of an eye, and it doesn’t necessarily always make sense. This information will help you see a bit into the future, so hopefully you’re not blindsided by a big shift in the industry.
Access the monthly OOIDA trucking market update here. LL