Spot Truckload Rates Up on Higher Demand

Spot truckload market load availability gained 4.8% during the week ending Nov. 5 while the number of trucks posted slipped 2.0%, according to DAT Solutions.

At $1.70/mile, the average spot TL van rate was up 5 cents week-over-week and was just 1 cent below year-ago levels. For reefers, rates looked more like the June produce peak than the first week in November, jumping 7 cents from the previous week to an average of $1.97/mile: reefer rates haven’t been this high since mid-July.

Van and reefer load-to-truck ratios jumped as well.  Let’s look at the numbers:

– Van L/T ratio: 3.0. Up 9%
– Reefer L/T ratio: 6.8. Up 13%
– Flatbed L/T ratio: 14.1. Down 2%

VAN TRENDS: Van load posts rose 7% and truck posts dropped 2% last week. Price changes were small on most individual lanes but the overall effect boosted the average linehaul rate to just 1 cent below the average for this time last year.

Several van markets are much stronger than they were a month ago, especially markets in the West (Los Angeles, Dallas, Denver, Seattle, and Stockton) that connect the region to much of the East Coast.

The top van markets by region all showed gains:

– Northeast: Buffalo, $1.97/mile, up 6 cents
– West: Los Angeles, $2.07/mile, up 4 cents
– South Central: Dallas, $1.51/mile, up 1 cent
– Midwest: Chicago, $2.05/mile, up 1 cent
– Southeast: Charlotte, N.C., $1.91/mile, up 2 cents

REEFER TRENDS: With produce and other fresh food moving into position for Thanksgiving, reefer load posts unexpectedly increased 10% last week while truck posts declined 2.5%.
Rates on the top reefer lanes have been hard to predict, with lots of changes from week to week:

– Fresno-Denver added 27 cents for an average of $2.27/mile
– Miami-Northern New Jersey added 35 cents for $1.44/mile
– Green Bay-Minneapolis rose 36 cents to $2.24/mile
– Miami-Baltimore was down 29 cents to $1.36/mile
– Los Angeles-Denver dipped 18 cents to $2.38/mile
– Ontario-Phoenix rose 7 cents to $3.10/mile

FLATBED TRENDS: Flatbed load posts declined 1% last week as truck posts increased less than 1%. That caused the load-to-truck ratio to decline nearly 2% to 14.1 loads per truck. The average flatbed rate decline 1 cent to $1.91/mile.

Tags: DAT Solutions, Spot Rate

Category: Featured, General Update