Spot Market Insights: Spot Rates Add to Roadcheck Gains in the Latest Week

The MDI in the latest week otherwise was the strongest since the first week of 2023

Spot Rates Add to Roadcheck Gains in the Latest Week

Data from Truckstop and FTR Transportation Intelligence for the week ended May 24 show a continued increase in broker-posted spot rates following the more substantial gains during the previous week that have been sparked by the annual International Roadcheck event. Further rate increases for the total spot market during the week following Roadcheck are common and have occurred every year since the event moved to May in 2021.

Since 2022, the week following Roadcheck has been the week before Memorial Day, likely adding some upward pressure on rates. After significant gains in four of the past five weeks, spot rates for refrigerated van equipment barely exceeded those for flatbed equipment – for the first time since the fourth week of this year. Spot rates for van equipment are tracking more closely with comparable 2023 weeks than are rates for flatbed, which – while stable – have not shown any signs of their usual spring peak.

With a decline in load postings and an increase in truck postings, the Market Demand Index declined to 81.2. While lower than in the prior week, the MDI in the latest week otherwise was the strongest since the first week of 2023.

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