BLOOMINGTON, Ind. — Lower broker-posted rates in the Truckstop system during the week ended Aug. 11 were mostly responsible for a decrease in flatbed spot rates, according to the latest Truckstop report.
Dry van spot rates barely changed, edging up by a fraction of a cent, while refrigerated rates eased more than a cent after the prior week’s robust gain.
Refrigerated spot rates exceeded flatbed rates for the second straight week after trailing for all but one week since early January. Dry van spot rates have not exceeded flatbed rates since early 2022.
Loads available
Total load activity declined about 6% after rising 4% in the previous week. Volume was more than 22% below the same week last year — the least negative year-over-year comparison in more than a year — and about 26% below the five-year average for the week. Load activity was lower week over week in all regions. Truck postings increased 1.3%, and the Market Demand Index — the ratio of loads to trucks — fell.
Total rates
The total broker-posted rate decreased 3 cents after rising slightly more than that in the prior week. Rates were about 15% below the same 2022 week, which is the least negative year-over-year comparison since late last year, and were nearly 5% below the five-year average. The rate decrease follows seasonal expectations for total market rates, which tend to decline gradually between late June and Labor Day.
Dry van
Dry van spot rates ticked up half a cent after rising more than 4 cents during the previous week. Dry van rates were nearly 13% below the same week last year and nearly 9% below the five-year average. The year-over-year comparison in rates was the least negative since July of last year. Dry van loads fell 5.3% after increasing about 1% in the prior week. Loads were up in the Midwest but down in all other regions. Volume was nearly 14% below the same 2022 week and almost 19% below the five-year average. The year-over-year comparison once again was the least negative in more than a year.
Reefer
Refrigerated spot rates eased 1.4 cents after rising more than 11 cents during the prior week. Rates were nearly 11% below the same 2022 week for the least negative year-over-year comparison since May 2022. Refrigerated rates were nearly 6% below the five-year average. Refrigerated loads fell 8.1% after rising more than 14% in the previous week. Loads were up in the Mountain Central region but down elsewhere. Volume was more than 13% below the same week last year and 17% below the five-year average for the week.
Flatbed
Flatbed spot rates decreased more than 3 cents after easing 1 cent during the previous week. Rates, which have fallen in nine of the past 11 weeks, were nearly 18% below the same 2022 week and about 3% below the five-year average. Flatbed loads fell 6.9% after rising nearly 3% in the prior week. Loads were down in all regions. Volume was about 35% below the same week last year and about 41% below the five-year average for the week.
Linda Garner-Bunch has been in publishing for more than 30 years. You name it, Linda has written about it. She has served as an editor for a group of national do-it-yourself publications and has coordinated the real estate section of Arkansas’ only statewide newspaper, in addition to working on a variety of niche publications ranging from bridal magazines to high-school sports previews and everything in between. She is also an experienced photographer and copy editor who enjoys telling the stories of the “Knights of the Highway,” as she calls our nation’s truck drivers.
