Spot Rates Edge Upward

Spot market trends were mixed during the week ending May 24 as load availability increased for vans and reefers and capacity loosened, according to DAT Solutions.

Overall load availability on DAT load boards gained 1.7% against a 4.3% increase in posted capacity. Rates edged up for all three equipment types.

Produce season continues to generate demand for refrigerated equipment, especially across the southern United States. The national average spot rate for reefer freight picked up 2 cents (0.9%) to $2.33 per mile (all rates include fuel surcharge).

The average rate from Dallas gained 17 cents to $2.15 per mile; Los Angeles was $3.05 per mile, a 13-cent pickup; and Miami jumped 16 cents to $3.12 per mile.

A 5% increase in load availability for reefers was partly offset by a 2.8% decline in capacity. This boosted the load-to-truck ratio 2.0% from 8.6 to 8.7.

Load-to-truck ratios represent the number of loads posted for every truck available on the DAT network of load boards. On the spot reefer market, for every available truck last week there were 8.7 available loads.

The April average was 9.0. The national average spot rate for van loads added a penny to $1.97 per mile.

Category: General Update