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Truckstop, FTR show van spot rates experience largely seasonal increases

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Truckstop, FTR show van spot rates experience largely seasonal increases
Van Spot Rates rise mostly in line with seasonal expectations.

BLOOMINGTON, Ind.   Data from Truckstop and FTR Transportation Intelligence for the week ending Nov. 1 showed a spot market mostly moving in line with seasonal expectations.

“Broker-posted spot rates for dry van equipment returned to their recent upward trend, and refrigerated spot rates rose as they always do during comparable weeks of the year,” FTR said. “A decrease in rates for flatbed equipment, however, held back the overall market rate, which eased slightly for the second straight week. Dry van and refrigerated rates were up y/y for the fourth straight week.”

According to the release, flatbed rates were up y/y for the third straight week, although the positive comparison was tiny. Spot rates during the current week (week ended Nov. 8) typically move much like they did last week as refrigerated rates always rise and flatbed rates always fall. The move in dry van spot rates is not as consistent as the other equipment types for this week of the year.

With truck postings decreasing more sharply than load postings, the Market Demand Index increased to 68.1, which is still lower than it was two weeks earlier.

“Broker-posted spot rates for dry van equipment in the Truckstop system returned to their upward trend during the week ended November 1 (week 44) while refrigerated spot rates also rose, continuing their recent volatility,” said the release. “Refrigerated rates invariably rise during week 44, but dry van rates have been less consistent, especially in recent years. Flatbed rates fell as they almost always do during that week of the year. Rates were higher y/y for all three equipment types, but only barely so for flatbed.”

Total Spotload Availability

Total load activity eased 1.3% after decreasing more than 7% in the previous week. Load postings were close to 10% higher than the same 2023 week – the weakest comparison in four weeks – but were nearly 23% below the five-year average. Total truck postings fell 4.2%, and the Market Demand Index – the ratio of load postings to truck postings in the system – rose modestly.

Total Spot Rates

The total broker-posted rate eased three-tenths of a cent after declining just slightly more than that during the previous week. Rates were more than 1% above the same 2023 week but were close to 6% below the five-year average. Spot rates excluding a calculated fuel surcharge were nearly 11% higher than the same 2023 week and were higher y/y for all equipment types. The current week (week 45) typically looks much like last week as broker-posted refrigerated spot rates always rise and flatbed rates always fall. As with week 44, dry van spot rates are not as consistent as they are for the other equipment types.

Dry Van Spot Rates

Dry van spot rates increased nearly 3 cents after declining more than 2 cents in the prior week. Rates, which have risen in five of the past six weeks, were 3.5% above the same 2023 week but about 9% below the five-year average for the week. Excluding an imputed fuel surcharge, rates were nearly 16% higher than during the same 2023 week. Dry van loads declined 1.5%. Volume was about 10% below the same 2023 week and almost 37% below the five-year average.

Refrigerated Spot Rates

Refrigerated spot rates rose 5.5 cents after falling 4 cents in the prior week. Rates, which have seesawed over the past five weeks, were about 1% above the same 2023 week but more than 7% below the five-year average. Rates excluding an imputed fuel surcharge were up more than 9% y/y. Refrigerated loads rose 9.8%. Volume was more than 7% above the same 2023 week but 34% below the five-year average for the week.

Flatbed Spot Rates

Flatbed spot rates decreased nearly 3 cents after rising less than 2 cents in the previous week. Rates, which have risen in four of the past six weeks, were basically in line with last year at just under just 0.2% above the same 2023 week. Flatbed rates were about 5% below the five-year average for the week. Rates excluding an imputed fuel surcharge were up nearly 9% y/y. Flatbed loads decreased 3.4%. Volume was nearly 32% above the same week last year but close to 14% below the five-year average.

Dana Guthrie

Dana Guthrie is an award-winning journalist who has been featured in multiple newspapers, books and magazines across the globe. She is currently based in the Atlanta, Georgia, area.

Avatar for Dana Guthrie
Dana Guthrie is an award-winning journalist who has been featured in multiple newspapers, books and magazines across the globe. She is currently based in the Atlanta, Georgia, area.
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