Spot Freight Volumes Rise in Late July

What DAT Solutions is calling “an unusual surge of truckload freight” led to higher-than-normal volumes on the spot market during the week ending July 29.

The number of available loads increased 2% while truck posts edged down 2% compared to the previous week. National average load-to-truck ratios stayed firm: the van load/truck ratio was 5.3, up from 4.8, while flatbeds remained at 36.1 and reefers held at 8.5.

Typically, July is a month when spot truckload freight activity begins to decline.

In the van market, the top 100 van lanes set all-time records for volumes last week. Nationally, load posts increased 6% and posted truck capacity decreased 2%. Rates did not respond: the national average van rate fell 2 cents to $1.79/mile. Chicago ($2.08/mile, down 1 cent), Los Angeles ($2.15/mile, down 3 cents), Houston ($1.76/mile, down 3 cents), and Charlotte ($2.16/mile, down 3 cents) trended lower for outbound spot van rates.

Reefer demand remains strong for late July as load posts increased 5% and truck posts declined 2%. The national average rate fell 1 cent to $2.08/mile.

Regionally, harsh weather is taking a toll on crops but several lanes showed solid gains:

– Grand Rapids-Cleveland added 50 cents to $4.12/mile
– Grand Rapids-Madison rose 32 cents to $3.19/mile
– Chicago-Atlanta was up 32 cents to $2.59/mile
– Sacramento-Denver added 26 cents to $2.55/mile

The highest outbound average reefer rate last week was Green Bay, a penny higher at $2.88/mile. Chicago added 11 cents to $2.46/mile.

Flatbed load posts declined 1% last week while truck posts fell 4%. At $2.19/mile, the national average flatbed rate was 1 cent higher compared to the previous week.

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