FTR said its Trucking Conditions Index indicated a more hospitable environment for carriers in April but remained negative at a reading of -1.95, up from -7.25 in March. Both freight rates and financing costs were less negative, and freight volume improved, according to FTR. The company adds that the TCI has not been positive in any month since early 2022 and likely will be mostly mildly negative for the rest of the year, but it could see some outlying positive readings as it moves closer to neutral territory.

“Better days are in sight for trucking companies, but the market still needs to work through the tough combination of too much capacity and sluggish freight demand,” said Avery Vise, FTR’s vice president of trucking. “The May payroll jobs figures for trucking offered some encouragement that this transition is underway, but a healthier situation for carriers will require continued rightsizing of capacity and stronger volume. We still do not expect consistently favorable market conditions for carriers until early next year.”