Canada Freight Rates
Canada Freight Rates in November 2024
Updated Truckload Rates in Canada – November 2024
Truckload rates in Canada are being shaped by a combination of domestic and cross-border factors, reflecting evolving market conditions. Below is the latest breakdown of spot and contract rates across key Canada-related freight lanes.
Spot Market Rates
- Intra-Canada Dry Van: Spot rates within Canada fell slightly to $1.67 per mile in October 2024, down 2¢ from September. Despite softening as the month progressed, rates remain 10% higher year-over-year, buoyed by the earlier rail strike and strong freight demand earlier in the quarter.
- US to Canada: Northbound dry van spot rates remained steady month-over-month at $1.54 per mile in October, marking a 7.1% year-over-year increase. Seasonal shipping trends and easing year-over-year comparisons continue to support stable northbound pricing.
- Canada to US: Southbound rates, typically impacted by backhaul competition, briefly rose due to disruptions from the rail strike. However, these rates began to stabilize and decline in October as capacity normalized.
To see how Canadian rates change in the future, and for detailed analysis and forecasts or truckload, less-than-truckload, and intermodal, see ACT's freight & transportation forecast.
A one-week port lockout in early November is likely reducing freight demand temporarily, in contrast to the brief rail strike which pressed freight into the TL spot market in August.
Tim Denoyer
Vice President & Senior Analyst
Resources
Whether you’re new to our company or already a subscriber, we encourage you to take advantage of all our resources.