Trucking Rates Could Continue to Rise

Trucking Rates Could Continue to Rise

 

Organic soybean meal prices remain elevated, and they are unlikely to dip much as transportation costs continue to drive up prices away from the crusher. A vaccine mandate that impacts Federally regulated workers, including truck drivers, should only accelerate the lack of transportation supply. Biden’s vaccine mandate for businesses with 100 or more employees will require that employers ensure by January 4, 2022. This policy is currently in front of the Supreme Court.

On January 15, a Canadian-mandate that all cross-border truck drivers from Canada will need to be vaccinated. The same mandate will go into effect from the U.S. to Canada on January 22, 2022. While both the Canadian Trucking Alliance and the American Trucking Association are fighting the rules, this issue will likely generate higher trucking rates. U.S. domestic trucking rates are already above $4 per load per mile, up from approximately $2.50 per load per mile a year ago. 

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