Canada Freight Rates

Truckload Rates in Canada

May 2026 Update

May 26, 2026

As of May 2026, Canada freight rates remain firmer than earlier in the cycle, supported by tighter capacity, improved freight activity, and a stronger U.S. truckload market. Domestic demand is not broad-based, but Canada’s smaller carrier base and prior fleet contraction continue to support rate floors.

ACT’s May Freight Forecast shows Canadian freight demand improved from earlier levels, while capacity remains structurally tighter than in the U.S. Cross-border pricing is also receiving support from firmer U.S. spot and contract conditions.

Spot Rates

Canada spot rates remain mixed but generally better supported than in 2025. Intra-Canada dry van pricing has softened from recent highs, but capacity conditions remain tight enough to limit downside.

Northbound and southbound cross-border lanes are being influenced by the stronger U.S. truckload market. While freight volumes remain uneven, tighter U.S. capacity and firmer spot benchmarks are helping stabilize pricing on transborder freight.

Contract Rates

Canada contract rates are beginning to reflect a firmer market backdrop, though pricing remains measured. Shippers are still cautious, but carrier leverage has improved compared with the prior downcycle.

For carriers, contract improvement should help support revenue quality, though fuel, labor, insurance, and equipment costs continue to pressure margins. For shippers, bid activity may become less favorable if U.S. truckload tightness continues to spill into cross-border lanes.

Cross-Border / Demand Drivers

Canadian freight conditions remain closely tied to U.S. market strength, trade flows, and manufacturing activity. Domestic demand has improved, but tariff uncertainty, uneven industrial activity, and cautious inventory behavior remain headwinds.

Capacity remains the more important driver. Canada’s Class 8 tractor fleet is smaller year-over-year, and driver availability remains tight. That combination is helping keep pricing firmer even without a strong demand surge.

Summary

Canada freight rates are entering May 2026 on firmer footing than much of 2025, but the recovery remains uneven. Domestic and cross-border pricing are supported by tighter capacity, improving U.S. truckload conditions, and better freight activity.

Shippers, carriers, brokers, fleets, and investors should continue monitoring U.S. spot and contract trends, cross-border volume, tariff developments, driver availability, and whether tighter capacity continues to support Canadian trucking rates through the remainder of 2026.

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.