Canada Freight Rates

Truckload Rates in Canada

February 26, 2026

Canadian truckload rates entered February 2026 with firmer momentum than previously observed, supported by winter-driven tightening and improved freight activity early in the year. While the lift from pre-tariff shipping has fully unwound and broader economic softness remains a factor, freight volumes strengthened meaningfully in December and January. LoadLink’s Freight Index surged in January, signaling a sharp improvement in freight movement compared to late 2025 levels. Capacity in Canada remains structurally tighter than in the U.S. following earlier fleet contraction, and recent demand acceleration has tightened conditions more noticeably across both domestic and transborder lanes. ACT Research’s February Freight Forecast highlights improving spot activity even as macroeconomic caution persists.

Spot Market Rates

Intra-Canada Dry Van:
Intra-Canada dry van spot rates strengthened into January and early February as freight volumes surged and winter storms disrupted capacity across key provinces. LoadLink’s Freight Index posted a sharp sequential increase, reflecting materially improved load activity compared to late 2025. While consumer spending and manufacturing activity remain uneven, freight demand has shown stronger early-year momentum than previously anticipated.

Structurally tighter capacity relative to the U.S. continues to limit downside risk, and the recent demand acceleration has shifted short-term leverage modestly back toward carriers. Some normalization is expected as weather impacts ease, but rate floors appear firmer than those seen throughout most of 2025.

U.S. to Canada:
Northbound rates have stabilized and improved modestly entering February, supported by firmer U.S. spot conditions and tightening truckload capacity. While cross-border consumer-goods and manufactured-input flows remain measured rather than robust, improving U.S. freight fundamentals are providing incremental support to northbound pricing.

Tariff policy uncertainty remains a variable, but recent U.S. spot strength and load-to-truck tightening have reduced downward pressure compared to late 2025 conditions.

Canada to U.S.:
Southbound rates strengthened during January and early February alongside broader truckload tightening in the U.S. Weather disruptions and improved U.S. spot market conditions lifted export pricing, and volumes have been more resilient than late-2025 trends suggested.

While U.S. manufacturing activity remains uneven, stronger U.S. spot benchmarks and tightening capacity have provided support for Canadian export lanes. Some retracement is expected as seasonal effects fade, but conditions are firmer than those prevailing through most of the prior year.

Outlook
Canadian truckload markets are entering February 2026 in a stronger position than at any point during 2025. Domestic freight volumes have improved materially, cross-border lanes are benefiting from tighter U.S. capacity, and structural fleet contraction continues to support pricing floors.

That said, broader economic softness, uneven manufacturing activity, and ongoing trade policy uncertainty continue to temper the pace of recovery. Looking ahead through 2026, the Canadian outlook remains closely tied to sustained U.S. freight strength and stable cross-border trade flows. While volatility is likely as seasonal factors normalize, Canadian carriers are positioned in a firmer environment, with improved spot conditions and tighter capacity supporting a more constructive trajectory than earlier forecasts indicated.

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To see how Canadian rates change in the future, and for detailed analysis and forecasts or truckload, less-than-truckload, and intermodal, see ACT's freight & transportation forecast.