According to information released by DAT One and DAT iQ on Nov. 26, available capacity on the spot market continued to tighten the week of Nov. 17-23 (Week 47).
The number of trucks on the DAT One marketplace fell 10.3% to 306,216 compared to Week 46. At 1.86 million, the number of loads posted on the network was 10.5% higher, led by a 15.2% jump in van load posts.
Spot market activity typically rises before Thanksgiving and the various holiday sales events. Reflecting higher demand, load-to-truck ratios and linehaul rates increased for all three equipment categories.
Dry Vans
▲ Van loads: 896,959, up 15.2% week over week
▼ Van equipment: 201,195, down 9.8%
▲ Linehaul rate: $1.67 net fuel, up 1 cent
▲ Load-to-truck ratio: 4.5, up from 3.5
Refrigerated (reefer)
▲ Reefer loads: 430,236, up 7.8% week over week
▼ Reefer equipment: 62,896, down 11.1%
▲ Linehaul rate: $2.06 net fuel, up 2 cents
▲ Load-to-truck ratio: 6.8, up from 5.6
Flatbeds
▲ Flatbed loads: 532,072, up 5.5% week over week
▼ Flatbed equipment: 42,125, down 11.3%
▲ Linehaul rate: $1.97 net fuel, up 1 cent
▲ Load-to-truck ratio: 12.6, up from 10.6
In a first for 2024, the U.S. Department of Agriculture (USDA) reported a shortage of trucks in its weekly Fruit and Vegetable Truck Rate Report, amplifying how soft and oversupplied the reefer market has been year to date, according to Dean Croke, industry analyst for DAT iQ.
The USDA’s Nov. 19 report said trucks were in short supply in two Pacific Northwest markets: Twin Falls, Idaho, along the Snake River, and the Columbia River Basin in Washington. Both areas produce potatoes and dry onions.
To review the USDA report, click here.
Croke also points to seasonal “quirks” of the freight calendar.
“There are only 18 business days between Thanksgiving and Christmas, the fewest since 2019 (and 2013 before that), and just three full business weeks before Christmas,” he said.
“The compressed schedule and risk of delays due to traffic, weather and congestion at receiving docks make long-haul freight more desirable for truckers who want to keep moving,” he continued. “Many independent carriers who use the load board will look to route home (or some other desirable place) by the Saturday before Christmas, which may make trucks on the spot market particularly hard to find from Dec. 20-24.”
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.
