Spot truck demand solidly above seasonal in January. Weather-related disruptions across much of the US and an early Chinese New Year have exacerbated the changing domestic capacity dynamic, which is increasingly constrained given both increased regulatory headwinds and limited carrier fleet growth. Core pricing growth in 2014 across modes (TL, IM and LTL) is expected to be similar to 2013, but a continuation of above-seasonal tightness through February could lead to upside relative to our expectations.
