Truckload Spot Rates Spiked to $3.73 Before Memorial Day — Then Fell Back Fast, Cargoos Says

A sharp holiday swing revealed how quickly truck capacity can tighten in today’s freight market

CHICAGO, IL, UNITED STATES, May 26, 2026 /EINPresswire.com/ -- Truckload spot rates surged to $3.73 per mile on May 23 ahead of Memorial Day before quickly falling back into the $2.80 range after the holiday, according to Cargoos.

The spike lasted only a few days, but it exposed something important: the freight market may look stable most of the time, yet available truck capacity can disappear almost overnight.

Before the holiday weekend, many drivers paused operations, delayed dispatch, or stayed off the road entirely. At the same time, shippers rushed to move freight before warehouse closures, customer deadlines, and post-holiday backlogs.

The result: fewer trucks, more urgent freight, and a fast-moving spot market.
“Capacity tightened fast before the holiday, and rates moved with it,” said Artur Gronus, CEO of Cargoos Logistics. “When available trucks disappear, even briefly, the spot market reacts immediately.”

Just as important was what happened next.

Once drivers returned after Memorial Day, spot rates quickly cooled back into the $2.80 range. Cargoos says that signals the spike was driven less by a lasting freight boom and more by temporary capacity withdrawal during a compressed shipping window.
“The trucks came back, and the market relaxed,” Gronus said. “That tells us this was largely about timing, driver availability, and how little extra capacity exists when demand suddenly compresses.”

Cargoos says the volatility also highlights how different today’s market is from previous soft freight cycles. Even without a major nationwide freight surge, rates can still jump sharply when truck availability tightens for a short period.

For shippers, the takeaway is simple: average rates can hide real risk.

Sources:
Yahoo Finance: https://finance.yahoo.com/economy/policy/articles/one-week-landmark-scotus-ruling-173229640.html
DAT Freight & Analytics: https://www.dat.com/trendlines/van/national-rates

Jaymie Freeman
Cargoos Logistics
+1 312-772-4422
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