BLOOMINGTON, Ind. — Total broker-posted spot rates in the Truckstop system rose for the first time in four weeks during the week ended Feb. 16 (week 7) solely on the strength of rates for flatbed equipment.
Spot rates for both dry van and refrigerated equipment fell for the fourth straight week after the weather-related spike in mid-January. The increase in flatbed rates nearly offset the cumulative decrease in the prior two weeks, which were the only weeks of the year to see a decline week over week.
Total loads
Total load activity rebounded 6.1% after declining for the past three weeks. As was the case with rates, flatbed was solely responsible for the gain. Total volume was 4% below the same 2023 week and almost 34% below the five-year average. Truck postings ticked up 0.5%, and the total Market Demand Index – the ratio of loads to trucks – increased to its highest level in four weeks.
Total rates
The total broker-posted rate increased nearly 4 cents after decreasing 3 cents in the prior week. Rates were nearly 6% below the same 2023 week and almost 5% below the five-year average. Aside from the weather-related strength in mid-January, total market rates have been relatively stable this year. The total market rate in the latest week was about 2 cents higher than in the first week of this year.
Dry van rates
Dry van spot rates eased 1.5 cents after falling more than 10 cents during the previous week. Rates were nearly 3% below the same week last year and almost 11% below the five-year average. Dry van loads declined 1.6% after dropping nearly 15% during the prior week. Volume was about 15% below the same 2023 week and about 43% below the five-year average for the week.
Refrigerated rates
Refrigerated spot rates fell 4.5 cents after dropping more than 8 cents during the prior week. Rates were nearly 4% below the same 2023 week and more than 11% below the five-year average. Refrigerated loads decreased 6.7% after falling nearly 11% during the previous week. Volume was about 8% below the same week last year and nearly 44% below the five-year average.
Flatbed rates
Flatbed spot rates rose 5.4 cents after declining more than 2 cents in the previous week. Rates were about 7% below the same week last year and about 3% below the five-year average. Flatbed loads jumped about 15% after rising more than 8% during the prior week. Volume was about 7% above the same 2023 week and more than 28% 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.
