BLOOMINGTON, Ind. — Broker-posted spot market rates in the Truckstop system for dry van and refrigerated equipment declined slightly during the week ending March 7.
“The decrease in refrigerated spot rates was mostly in line with expectations for that week of the year, at least over the past five years,” FTR said. “Dry van spot rates, however, have declined only three times during a comparable week dating back to at least 2008. Flatbed spot rates continued their steady climb and were at their highest level since July.”
Total Spot Load Availability
Total load activity inched up 1.0% to the highest level since May 2023, which had been the case in the previous week as well. Volume was 15% higher than in the same 2024 week but almost 28% below the five-year average for the week. Total truck postings fell 6.8%, and the Market Demand Index – the ratio of load postings to truck postings in the system – rose to its strongest level in eight weeks. Flatbed continued to drive the increase in the MDI.
Total Spot Rates
The total market broker-posted spot rate increased just under 2 cents for a fourth straight week-over-week increase, which had not occurred since March of last year. Total rates were practically flat y/y at down just 0.1%, but they were nearly 8% below the five-year average for the week. Rates excluding a calculated fuel surcharge were up nearly 4% y/y. During the current week (week 10) of the year, dry van rates usually fall while flatbed rates usually rise. Refrigerated rates have been less constant but have mostly fallen in recent years.
Dry Van Spot Rates
Dry van spot rates decreased 1.5 cents and have declined in seven of the past eight weeks. Rates were 0.4% above the same 2024 week but about 15% below the five-year average for the week. Rates excluding a calculated fuel surcharge were up close to 6% y/y. Dry van loads fell 6.7%. Volume was nearly 7% below the same 2024 week – a mirror image of the prior week’s positive comparison – and more than 45% below the five-year average.
Refrigerated Spot Rates
Refrigerated spot rates declined 1.3 cents and, like dry van rates, have fallen in seven of the past eight weeks. Rates were nearly 2% below the same 2024 week and close to 16% below the five-year average for the week. Rates excluding a calculated fuel surcharge were up about 2% y/y. Refrigerated loads eased 2.1%. Volume was less than 1% above the same 2024 week but about 46% below the five-year average.
Flatbed Spot Rates
Flatbed spot rates increased about 2 cents for a fourth straight gain. Rates were 1% below the same 2024 week and close to 7% below the five-year average for the week. Rates excluding a calculated fuel surcharge were up 2.4% y/y. Flatbed loads increased 5.4% to the highest level since July 2022. Volume was more than 28% above the same 2024 week but more than 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.
