Despite the holiday week, data from Truckstop and FTR Transportation Intelligence for the week ended July 5 show how calendar shifts can affect spot market performance.
That’s according to a press release issued earlier this week.
Broker-posted spot rates for dry van and refrigerated van equipment rose during the holiday week – an unusual development for that week of the year, but the timing of the Independence Day holiday likely was a significant factor, according to the report.
“Dry van and refrigerated rates usually fall sharply during week 27, but this year, most of the week was over before the holiday,” the release stated. “In most years, any pre-holiday rate strength occurs during week 26.”
Previous years with rate gains during week 27 generally have been those in which July 4 was a Thursday or Friday. Refrigerated rates were especially robust with the largest increase for a week 27 since at least 2008 and the strongest year-over-year comparison for any week since February 2022. With the calendar distortion over, the seasonal expectation would be for a decline in rates during the current week.
With load postings falling far more sharply than truck postings during the holiday week, the Market Demand Index fell to 54.3, which is the lowest level since December.
Bruce Guthrie is an award-winning journalist who has lived in three states including Arkansas, Missouri and Georgia. During his nearly 20-year career, Bruce has served as managing editor and sports editor for numerous publications. He and his wife, Dana, who is also a journalist, are based in Carrollton, Georgia.
