FMI: Freight Market Index
A composite score blending tender volume, reject rate, and spot pricing into one market read.
A freight market index combines multiple primary indicators — typically OTRI, OTVI, NTI, and load-to-truck ratios — into a single normalized score that summarizes whether the truckload market is tightening or loosening. Different publishers use different weightings, but the goal is always the same: replace three or four chart-watching habits with one number.
Who publishes it
FreightWaves (Logistics Manager's Index variant), DAT (DAT iQ benchmarks), and several private indices from brokers and 3PLs.
How to read it
- Most indices are normalized 0–100 or indexed to a baseline of 50.
- Above 55 = expansion / tightening capacity.
- Below 45 = contraction / loosening capacity.
- Sustained moves matter more than single-month readings.
Why it matters
Composite indices smooth out the noise of any single metric. They're how procurement teams and analysts communicate market direction in board meetings without dragging in five separate charts.
Frequently asked questions
Which freight market index is most reliable?
There's no single standard. Logistics Manager's Index (LMI) is the most cited academically; FreightWaves SONAR composites are most cited operationally; DAT iQ benchmarks are most cited in procurement.
Can I use a freight market index for budgeting?
As a directional input, yes. For actual rate forecasts, blend the index with lane-level $/mile benchmarks and your own historical volume mix.
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