Data from Truckstop and FTR Transportation Intelligence for the week ending January 24 showed a spot market that continued to move back toward normal seasonal patterns following the spike in broker-posted spot rates for van equipment that always occurs in late December.
Spot rates for both dry van and refrigerated equipment continued the settling that began in the previous week as flatbed rates moved higher, which also is typical for a comparable week of the year. Year-over-year comparisons were weaker than they have been due to the disruptions of freight networks and a sharp increase in spot rates that had occurred during the same 2024 week due to extreme winter weather. Spot rates during the current week (week ending January 31) typically would decline further for dry van and refrigerated but rise for flatbed.
A sharp drop in load postings due at least in part to a federal holiday, coupled with a slight increase in truck postings, produced a Market Demand Index of 70.5, the lowest level in four weeks.
Total Spot Load Availability
Total load activity fell 15.4%, although the federal holiday might have played a role. Volume was nearly 12% below the same 2024 week and about 31% below the five-year average for the week. Total truck postings ticked up 1%, and the Market Demand Index – the ratio of load postings to truck postings in the system – fell to its lowest level in four weeks.
Total Spot Rates
The total market broker-posted spot rate decreased 2 cents for the fourth straight weekly decrease. Aside from 2024, spot rates for van equipment have fallen during every week 3 since 2011. Rates were down 5% from the same 2024 week, which had seen weather-related strength, and were 7.5% below the five-year average for the week. Rates excluding a calculated surcharge also were down 5% y/y. The market will face an easier y/y comparison during the current week.
Dry Van Spot Rates
Dry van spot rates decreased more than 3 cents after falling more than 7 cents in the previous week. Rates were more than 2% below the same 2024 week and about 7% below the five-year average for the week. Rates excluding a calculated fuel surcharge were down 1.6% y/y. Dry van loads fell 17.2%. Volume was close to 22% below the same 2024 week and nearly 36% below the five-year average.
Refrigerated Spot Rates
Refrigerated spot rates fell more than 11 cents after dropping more than 15 cents during the prior week. Rates were 7.5% below the same 2024 week and more than 7% below the five-year average for the week. Rates excluding a calculated fuel surcharge were down 8% y/y. Refrigerated loads decreased 9.0%. Volume was more than 28% below the same 2024 week and almost 33% below the five-year average.
Flatbed Spot Rates
Flatbed spot rates were basically unchanged after increasing 3 cents in the previous week. Rates were nearly 5% below the same 2024 week and more than 7% below the five-year average for the week. Rates excluding a calculated fuel surcharge were down by roughly the same degree that broker-posted rates were. Like dry van, flatbed loads fell 17.2%. Volume was less than 2% above the same 2024 week but nearly 36% below the five-year average.
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.
