BOISE, Idaho — Total spot market rates in the Truckstop system were essentially unchanged during the week ended June 2 (week 22), according to the latest Truckstop report.
Broker-posted dry van and flatbed spot rates each eased a fraction of a cent while refrigerated spot rates continued to fall modestly after the 29-cent surge during the International Roadcheck inspection event two weeks earlier.
The Memorial Day holiday produced sharp drops in both spot volume and truck postings, resulting in essentially no change in the loads-to-trucks ratio.
Loads available
Total load activity fell 14.1% — the largest drop of the year so far — following a decrease of nearly 8% in the previous week. Volume was almost 41% below the same week last year and about 23% below the five-year average. Load activity declined in all regions except the Northeast, which saw a slight gain. Truck postings fell 13.8%, which also is the largest decrease of the year, and the Market Demand Index – the ratio of loads to trucks – barely budged.
Total rates
The total broker-posted rate eased just a tenth of a cent after rising just over 1 cent in the prior week. The decrease in the total market rate was buffered in part by the small specialized segment, which saw a healthy increase in rates. The total market rate was almost 22% below the same 2022 week and 0.1% below the five-year average. Although the deficit versus the five-year average is tiny, it is the first negative comparison in total rates versus the average since June 2020.
Dry van
Dry van spot rates eased two-tenths of a cent after rising nearly 4 cents in the previous week. Rates were more than 19% below the same 2022 week and more than 7% below the five-year average. Dry van loads fell 15.4% after dropping more than 6% in the prior week. Volume was about 37% below the same week last year and about 19% below the five-year average for the week. Loads fell in all regions.
Reefer
Refrigerated spot rates declined just over 5 cents. Over the past two weeks, refrigerated rates have given back nearly 11 cents of the 29-cent surge during the Roadcheck event in week 20. Refrigerated rates were nearly 14% below the same 2022 week and more than 5% below the five-year average for the week. Refrigerated loads dropped 13.8% after falling 15% during the prior week. Volume was more than 43% below the same week last year and 20% below the five-year average for the week. Loads were up in the Northeast and on the West Coast but down elsewhere.
Flatbed
Flatbed spot rates eased just three-tenths of a cent after rising nearly 3 cents in the previous week. Rates were about 25% below the same 2022 week but nearly 2% above the five-year average for the week. Flatbed loads fell 13.5% after declining nearly 8% in the previous week. Volume was more than 45% below the same week last year and nearly 30% below the five-year average for the week. Loads rose sharply in the Northeast but were down sharply in all other regions.
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.
