BLOOMINGTON, Ind. — A week after posting their strongest gains of the year, broker-posted dry van and refrigerated spot rates in the Truckstop system fell by about the same amount during the week ended March 10 (week 10) that they had increased the week before, according to the newest report from Truckstop and FTR Transport Intelligence.
Meanwhile, the flatbed segment recorded its largest single-week drop in rates since August. Spot load activity declined following the prior week’s jump that had been driven mostly by flatbed. Most of the volume weakness occurred in the van segments.
Spot load activity fell more than 5% after surging nearly 17% during the prior week, the FTR report noted.Volume was almost 57% below the same week last year and about 30% below the five-year average. Loads were up in the Southeast and South Central regions but down fairly sharply elsewhere. Truck postings ticked up 1%, and the Market Demand Index — the ratio of loads to trucks — fell.
The total broker-posted spot market rate declined just over 5 cents. Total rates were about 20% below the same 2022 week but more than 2% above the five-year average. FTR estimates that rates excluding a calculated fuel surcharge were about 21% below the same 2022 week.
Dry van spot rates decreased about 5 cents, slightly exceeding the gain of just over 4 cents in the prior week. Rates were almost 27% below the same 2022 week and nearly 8% below the five-year average for the week. Excluding a fuel surcharge, rates were about 30% lower than in the same week last year. Dry van loads decreased nearly 11%. Volume was almost 56% below the same week last year and about 34% below the five-year average for the week. Loads were down in all regions, although the declines were milder in the Southeast and South Central regions than elsewhere.
Refrigerated spot rates declined about 4 cents, which was the same scope as the increase in the previous week. Rates were about 25% below the same 2022 week and nearly 6% below the five-year average for the week. Excluding fuel surcharges, rates were about 28% below the same week last year. Refrigerated loads fell 11%.
Volume was about 59% below the same week last year and nearly 36% below the five-year average for the week. Load activity was up in the Southeast but down in all other regions, although the decrease in the South Central region was much smaller than other regions.
Flatbed spot rates fell nearly 8 cents for the largest weekly decline since week 33 of last year. Rates were about 19% below the same 2022 week but 5% above the five-year average for the week. Excluding an imputed surcharge, flatbed rates were about 20% below the same week last year. Flatbed loads dipped more than 1% after surging more than 27% in the previous week. Volume was nearly 60% below the same week last year and more than 31% below the five-year average for the week. Load activity was up in the Southeast and South Central regions but down elsewhere.
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