BLOOMINGTON, Ind. — Reefer spot rates saw their largest drop in months — about 11 cents — during the week ended May 31, according to the latest data from the Truckstop system and FTR Transportation Intelligence.
Meanwhile, flatbed spot rates gained for the third straight week, while dry van spot rates stayed virtually flat.
Total broker-posted rates in the Truckstop system also remained essentially unchanged, according to a news release.
Total loads
Total load activity fell 17%, which is not an especially large drop for a week that includes Memorial Day, Truckstop officials say. Total volume was about 5% below the same 2023 week and about 28% below the five-year average for the week. Total truck postings fell 9.5% during the holiday week, 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 rates
The total broker-posted rate edged down two-tenths of a cent, according to Truckstop. Rates were about 5% below the same 2023 week and more than 7% below the five-year average for the week. The week-over-week changes in the rates for each of the principal equipment types were directionally in line with the changes for the same week last year.
Dry van rates
Dry van spot rates dipped by a tenth of a cent, Truckstop officials report. Rates were more than 2% below the same 2023 week and about 9% below the five-year average. Both comparisons were essentially the same as they were in week 21. Dry van loads fell 13.6%. Volume was about 2% below the same 2023 week and nearly 22% below the five-year average for the week.
Refrigerated rates
Refrigerated spot rates dropped about 11 cents, according to Truckstop. Rates were 1% below the same 2023 week and 6% below the five-year average for the week. The negative y/y comparison in spot rates was only the second in the past eight weeks. Refrigerated loads fell 18.6%. Volume was more than 8% below the same 2023 week and about 29% below the five-year average for the week.
Flatbed rates
Flatbed spot rates rose more than 1 cent after edging up just over a half cent in the previous week, the Truckstop report states. Rates were 6% below the same 2023 week and more than 7% below the five-year average for the week. Flatbed loads fell 19.5%. Volume was about 6% below the same week last year and nearly 35% below the five-year average for the week.
Born in Pine Bluff, Arkansas, and raised in East Texas, John Worthen returned to his home state to attend college in 1998 and decided to make his life in The Natural State. Worthen is a 20-year veteran of the journalism industry and has covered just about every topic there is. He has a passion for writing and telling stories. He has worked as a beat reporter and bureau chief for a statewide newspaper and as managing editor of a regional newspaper in Arkansas. Additionally, Worthen has been a prolific freelance journalist for two decades, and has been published in several travel magazines and on travel websites.
