Spot Market Insights: Spot Rates Rise for All Equipment Types in the Latest Week

Dry van spot rates increased for a fourth straight week for the first time since May 2021

Data from Truckstop and FTR Transportation Intelligence for the week ended October 18 showed a stronger market in rates and volume. Regional data implies strength from more factors than just relief and recovery from Hurricane Milton and perhaps continued response to Helene. Dry van spot rates increased for a fourth straight week for the first time since May 2021 and saw their strongest y/y comparison since March 2022. Refrigerated spot rates saw their second-largest gain since May and their strongest y/y comparison since July. Flatbed spot rates, which increased for only the second time in a comparable week in 12 years, were positive y/y – barely – for only the third time this year.

The nearly 25% increase in load postings versus the same 2023 week represented the strongest y/y comparison since early 2022, and volume even slightly exceeded that in the same 2022 week. With the increase in volume exceeding the increase in truck postings, the Market Demand Index rose to 72.0, the highest level in 13 weeks and exceeded the five-year average.

Spot Market Insights is provided weekly by Truckstop with analysis and commentary from FTR.

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