For the first time since March, broker-posted spot rates rose for a third straight week during the week ending Sept. 8, due in most part to uncharacteristic strength in rates for flatbed equipment, according to data from Truckstop and FTR Transportation Intelligence.
Flatbed posted its strongest rate increase since early February while refrigerated rates were essentially flat and dry van rates ticked up only slightly. Load postings were down for all equipment types due to the Labor Day holiday, but truck postings fell more sharply.
Total load activity fell 11.7% during Labor Day week for the largest decline since the week of Independence Day. Volume for Labor Day week was more than 15% below the same week last year, the least negative comparison since July 2022 and almost 21% below the five-year average for the week. Not surprisingly, volume was down in all regions week over week. Truck postings fell 16.1%, and the Market Demand Index – the ratio of loads to trucks – rose to its highest level since the end of June.
The total broker-posted rate rose just over 2 cents after rising by almost the same amount in the previous week. Rates were almost 12% below the same 2022 week — the least negative year over year comparison since October 2022 — and nearly 5% below the five-year average.
Dry van spot rates ticked up a half-cent after rising more than 6 cents during the prior week. Rates were more than 9% below both the same week last year — the least negative year over year comparison since July 2022 — and nearly 10% below the five-year average. Dry van loads fell 9.5%. Volume was more than 6% below the same week of 2022 — the least negative year over year comparison since July of last year — and 13% below the five-year average.
Refrigerated spot rates were practically unchanged, easing just a tenth of a cent after increasing for three straight weeks. Rates were more than 7% below the same week of 2022 and more than 5% below the five-year average. Refrigerated loads fell 9.9%. Volume was more than 16% below the same week last year and almost 21% below the five-year average for the week. Flatbed spot rates rose nearly 5 cents after ticking up three-tenths of a cent in the prior week. The back-to-back increases were the first since May. Rates were nearly 15% below the same 2022 week and nearly 3% below the five-year average. Flatbed loads fell 11%. Volume was about 20% below the same week last year and more than 32% below the five-year average for the week.
Flatbed spot rates rose nearly 5 cents after ticking up three-tenths of a cent in the prior week. The back-to-back increases were the first since May. Rates were nearly 15% below the same 2022 week and nearly 3% below the five-year average. Flatbed loads fell 11%. Volume was about 20% below the same week last year and more than 32% below the five-year average for the week.
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