Spot Freight Rates Slip But Stay High

The national average spot van and reefer rates declined for the third week in a row while the flatbed rate held steady after nearly two months of steady gains. Rates remain elevated for this time of year for all three equipment types:

– Van: $2.03/mile, down 1 cent

– Flatbed: $2.34/mile, unchanged

– Reefer: $2.36/mile, down 1 cent

Spot truckload rates may pick up before Thanksgiving, DAT said, as retail sales are projected to grow by 6% this holiday season and demand for capacity is solid.

Volumes for the top van markets rebounded 5% last week as shippers moved freight out the door before month’s end. Nationally, van load posts increased 1% and truck posts declined 3%, which caused the van load-to-truck ratio to increase from 5.4 to 5.9 loads per truck. In line with seasonal expectations during October, van load-to-truck ratios have declined since hitting a peak of 7.0 loads per truck during the final week of September.

Several key van lanes showed solid rate gains, including Dallas-Houston ($2.62/mile, up 8 cents) and Atlanta-Lakeland, Fla. ($3.02/mile, up 4 cents).

Reefer load posts held steady and truck posts declined 2% compared to the previous week, causing the load-to-truck ratio to increase 1% to 9.7 loads per truck. The reefer load-to-truck ratio has fallen after hitting the highest average ratio in years in late September before turning upward again last week.