Spot Market Insights: Van Spot Rates Rise in the Latest Week

Refrigerated rates were especially robust with the largest increase for week 27

Van Spot Rates Rise in the Latest Week

Data from Truckstop and FTR Transportation Intelligence for the week ended July 5 show how calendar shifts can affect spot market performance. Broker-posted spot rates for dry van and refrigerated van equipment rose during the week – an unusual development for that week of the year, but the timing of the Independence Day holiday likely was a significant factor.

Dry van and refrigerated rates usually fall sharply during week 27, but this year, most of the week was over before the holiday. 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.

Category: Driver Stuff, Equipment, Featured, General Update, News, Vehicles