BLOOMINGTON, Ind. — Broker-posted spot market rates in the Truckstop system for dry van and refrigerated equipment returned to their downward trend during the week ending Feb. 28.
The downtrend comes after rising for the first time in six weeks during the prior week, according to FTR. Refrigerated spot rates fell to their lowest level since April 2023. Dry van spot rates were at their second lowest level since October. Flatbed spot rates rose to their highest level since late July, and flatbed volume was the strongest since July 2022.
Total Spot Load Availability
Total load activity increased 6.5% to the highest level since May 2023. Volume was 22% higher than in the same 2024 week but more than 27% below the five-year average for the week. Total truck postings increased 1.5%, and the Market Demand Index – the ratio of load postings to truck postings in the system – rose to its strongest level in seven weeks due to flatbed.
Total Spot Rates
The total market broker-posted spot rate increased 2.5 cents due to stronger flatbed rates coupled with stronger flatbed volume performance week over week. Total rates were down more than 1% from the same 2024 week and were nearly 8% below the five-year average for the week. Rates excluding a calculated fuel surcharge were up more than 2% y/y. During the current week (week 9) of the year, flatbed and dry van spot rates usually rise while refrigerated rates in recent years have mostly declined.
Dry Van Spot Rates
Dry van spot rates decreased more than 1 cent after rising more than 3 cents in the prior week. Rates were 1.5% above the same 2024 week – the first positive comparison since the first week of the year – but about 14% below the five-year average for the week. Rates excluding a calculated fuel surcharge were up 7% y/y. Dry van loads increased 2.7%. Volume was nearly 7% above the same 2024 week but more than 45% below the five-year average.
Refrigerated Spot Rates
Refrigerated spot rates fell more than 6 cents after increasing more than 3 cents during the previous week. Rates were more than 3% below the same 2024 week and 16% below the five-year average for the week. Rates excluding a calculated fuel surcharge were nearly flat y/y at down 0.2%. Refrigerated loads fell 8.1%. Volume was 4% above the same 2024 week but about 46% below the five-year average.
Flatbed Spot Rates
Flatbed spot rates increased 3.6 cents after a gain of nearly 2 cents in the previous week. Rates were 2% below the same 2024 week and more than 6% below the five-year average for the week. Rates excluding a calculated fuel surcharge were up 1% y/y. Flatbed loads increased 9.6%. Volume was more than 32% above the same 2024 week but close to 18% 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.
