The Journal of Commerce is out with its latest US truckload capacity index, and it tells an interesting tale.

As seen in the graphic below, capacity dipped a bit in Q2, as large, publicly owned carriers in the index group reduced their combined fleet size by 1%.

But that was after US truck registrations had jumped 29.1% in the first five months of 2019 on a surge of new tractor purchases, according to IHS Markit.

What is perhaps most interesting is the fact that capacity has really jumped since 2018 - meaning somehow carriers have been able to find enough drivers in the face of what is reported to be a crisis-level driver shortage.

That said, "We do believe capacity is leaving the market" Derek Leathers, CEO of Werner Enterprises, said during a July 25 earnings call. "If you look at [Class 8 tractor and truck] order rates falling as fast as they are, [and] if you look at cancellations of current builds taking place."

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