According to data from Truckstop and FTR Transportation Intelligence for the week ending Jan. 10, spot rates are up for all equipment types.
“Spot rates usually fade in early January but broker-posted spot rates in the Truckstop system increased modestly for all equipment types during the week ended Jan. 10 (week 1),” according to an FTR media release. “Freight network disruptions from winter weather likely bolstered spot rates coming out of a capacity-driven spike during the holidays. Dry van spot rates were the highest in two years while refrigerated spot rates were the highest in just over a year. Flatbed spot rates recovered from their lowest level since July 2020.”
The data also showed firmer broker-posted spot rates than typical for early January.
“Spot rates rose for all equipment types as dry van spot rates were the highest in two years, and refrigerated spot rates were the highest in just over a year,” the release said. “Flatbed spot rates are still close to the weakest since the early recovery from pandemic lockdowns, but they did at least exceed the previous week’s level, which was the lowest since July 2020. Due to the mix of rates in the latest week, the total market rate declined slightly even though rates were higher week over week for all equipment types. In the current week (week ending January 17), dry van and refrigerated spot rates typically would decline as they normally would have last week, but it is unclear whether lingering weather effects might change the usual trajectory.”
Total Spot Load Availability
Total load activity jumped 77.4% to its highest level since March after rising more than 47% during the previous week. Volume was nearly 38% higher than during the same 2024 week but almost 21% below the five-year average for the week. Total truck postings increased 24.7%. The Market Demand Index – the ratio of load postings to truck postings in the system – soared to its highest level since June 2022.
Total Spot Rates
Despite rate increases for each individual equipment type, the total market broker-posted spot rate declined by about 1 cent. This odd outcome stems from the wide disparity in rate levels by equipment type, so the mix in a particular week occasionally produces a total market rate that moves contrary to the direction of rates for individual equipment types. Rates were up about 1% from the same 2024 week but down nearly 8% from the five-year average for the week. Rates excluding a calculated surcharge were up more than 4% year over year. The current week (week 2) typically sees declining dry van and refrigerated spot rates and rising flatbed rates, but it remains to be seen whether the market will continue to see effects from winter weather.
Dry Van Spot Rates
Dry van spot rates increased 2.4 cents after rising 2 cents in the previous week. Rates, which have risen about 16 cents in the past four weeks, were 3.4% higher than during the same 2024 week but were nearly 9% below the five-year average for the week. Rates excluding a calculated fuel surcharge were up 7.5% year over year. Dry van loads jumped 65.9% to their highest level since late June. Volume was almost 28% above the same 2024 week but more than 30% below the five-year average.
Refrigerated Spot Rates
Refrigerated spot rates rose 2.6 cents after increasing nearly 11 cents during the prior week. Rates, which have risen nearly 40 cents in the past four weeks, were 3.5% higher than in the same 2024 week but were more than 6% below the five-year average for the week. Rates excluding a calculated fuel surcharge were up 6.7% year over year. Refrigerated loads rose 29.2% to their highest level in two years. Volume was nearly 30% above the same 2024 week but 26% below the five-year average.
“Weather and a return to normal activity following the holidays likely were behind big increases in load availability and market stress during the week ended January 10,” the release said. “Total load postings hit their highest level since March. The growth in load postings greatly outpaced that for truck postings, resulting in a Market Demand Index of 95.5, the highest since June 2022.”
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.
