According to the lastest data from Truckstop and FTR Transportation Intelligence for the week ended August 9, it appears that the spot market is moving normally at rate levels that closely match those during the same week last year. Overall broker-posted spot rates declined as expected during the week, although rates for refrigerated equipment were up slightly.
Spot rates for both dry van and flatbed equipment declined week over week as they almost always do during this week of the year. Dry van spot rates slipped below prior-year levels for only the second time in nine weeks.
Refrigerated rates remained negative y/y for a second straight week but moved a bit closer to the prior-year level. Flatbed spot rates were down for an eighth straight week – a streak that had not occurred since July and August of 2019. Spot rates in the current week (week ended August 16) also tend to be weak sequentially as rates for dry van and flatbed equipment usually fall while refrigerated rates usually rise.
With load postings falling by more than truck postings, the Market Demand Index fell to 57.2, which is the lowest level in five weeks.
Bruce Guthrie is an award-winning journalist who has lived in three states including Arkansas, Missouri and Georgia. During his nearly 20-year career, Bruce has served as managing editor and sports editor for numerous publications. He and his wife, Dana, who is also a journalist, are based in Carrollton, Georgia.
