BLOOMINGTON, Ind. — Although the total broker-posted spot rate in the Truckstop system technically declined for the ninth straight week during the week ended July 28 (week 30), the decrease was a fraction of a cent.
Rates for dry van equipment also saw marginal easing, but refrigerated and flatbed rates saw their first week-over-week increases in several weeks. Spot rates for van equipment so far have been moving directionally in line with seasonal expectations since the late June peak, which was not especially robust.
Loads available
Total load activity eased 1% after falling nearly 7% in the prior week. Volume was almost 35% below the same week last year and nearly 28% below the five-year average. Volume was up in the Northeast, Mountain Central, and Midwest regions but down elsewhere. Truck postings declined nearly 2%, and the Market Demand Index — the ratio of loads to trucks — increased slightly.
Total rates
The total broker-posted rate was basically unchanged at a decline of less than 1 cent. The total market rate was about 19% below the same 2022 week and nearly 7% below the five-year average. The total market rate in the latest week was the lowest since August 2020.
Dry van rates
Dry van spot rates declined three-tenths of a cent after decreasing 3.6 cents in the previous week. A leveling off from the post-June decline is in line with seasonal expectations, but it is too early to know whether a firming of rates is a trend. Dry van rates were nearly 17% below the same 2022 week and about 11% below the five-year average. Dry van loads increased 2.2% after declining 2% during the previous week. Volume was nearly 25% below the same week last year and almost 18% below the five-year average for the week.
Reefer rates
Refrigerated spot rates increased nearly 4 cents for the first week-over-week gain since the end of June. Modest firming of rates is in line with seasonal expectations as refrigerated rates typically move a bit higher as Labor Day approaches. Rates were almost 14% below the same 2022 week and about 8% below the five-year average for the week. Refrigerated loads rose 3.1% after increasing 1.4% in the previous week. Volume was more than 24% below the same week last year and about 17% below the five-year average for the week.
Flatbed rates
Flatbed spot rates ticked up just seven-tenths of a cent, but it was only the second increase in the past nine weeks. During that period, flatbed rates have fallen more than 25 cents. Rates were more than 21% below the same 2022 week and about 4% below the five-year average. Flatbed loads fell 5.8% after dropping 12.7% in the prior week. Aside from the July 4 holiday week, load activity was the weakest since late December. Volume was nearly 47% below the same week last year and more than 43% below the five-year average for the week.
The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.
