BLOOMINGTON, Ind. — Broker-posted spot rates in the Truckstop system during the week ended Dec. 8 (week 49) fell by the most since early October, but rate decreases during the second week following Thanksgiving usually are even sharper.
According to a news release, dry van and refrigerated equipment saw notable spot rate decreases during the week while flatbed spot rates held steady. Total spot rates usually are relatively weak during the first couple of weeks of December before spiking during the holidays due to lack of capacity.
Total loads
Total load activity fell 15.6% after more than doubling during the week following Thanksgiving. Volume, which was essentially the same as the week before Thanksgiving, was down nearly 9% year-over and about 28% from the five-year average. The year-over-year comparison was the least negative since late September. Truck postings ticked up 1.8%, and the total Market Demand Index – the ratio of loads to trucks – fell but was the highest since early November aside from week 48.
Total rates
The total broker-posted rate declined 3.4 cents, which is the largest decrease since one of the same degree during early October. In most years, the second week following Thanksgiving sees a larger rate decrease. Rates were less than 9% below the same 2022 week – the least negative year-over-year comparison since August 2022 – and about 4% below the five-year average.
Dry van rates
Dry van spot rates declined 8 cents after rising by essentially the same amount during the previous week. Dry van rates invariably fall during the second week following Thanksgiving, and this year’s decrease was not especially large for the week historically. Rates were nearly 9% below the same 2022 week and nearly 10% below the five-year average. Dry van loads fell more than 21% after spiking more than 126% during the week following the holiday. Volume, which was the highest since September aside from week 48, was nearly 16% below the same 2022 week and about 26% below the five-year average for the week.
Refrigerated rates
Refrigerated spot rates fell about 12 cents following an increase of less than 2 cents during the previous week. Spot rates for refrigerated equipment usually fall substantially during the second week following Thanksgiving; the most recent year that saw a smaller decrease was 2019. Rates were nearly 10% below both the same 2022 week and about 11% below the five-year average. Refrigerated loads declined 16% after jumping nearly 64% during the week following the holiday. Volume was 16% below the same week last year and about 30% below the five-year average for the week.
Flatbed rates
Flatbed spot rates were essentially unchanged week over week, ticking up just a tenth of a cent. While the uptick was basically meaningless, it technically resulted in a fourth straight increase in flatbed rates, which had not occurred since April 2022. Rates were slightly more than 9% below the same 2022 week – the least negative year-over-year comparison since the final week of 2022 – and 0.5% above the five-year average. Flatbed spot rates had not been above the five-year average since early June. Flatbed loads declined nearly 11% after surging about 128% during the week following the holiday. Volume was about 5% above the same 2022 week but more than 36% below the five-year average for the week.
Born in Pine Bluff, Arkansas, and raised in East Texas, John Worthen returned to his home state to attend college in 1998 and decided to make his life in The Natural State. Worthen is a 20-year veteran of the journalism industry and has covered just about every topic there is. He has a passion for writing and telling stories. He has worked as a beat reporter and bureau chief for a statewide newspaper and as managing editor of a regional newspaper in Arkansas. Additionally, Worthen has been a prolific freelance journalist for two decades, and has been published in several travel magazines and on travel websites.
