Spot Market Insights: Van Spot Rates Mixed, Flatbed Down in the Latest Week

| April 29, 2024

With load postings down and truck postings up, the Market Demand Index fell to 64.3, the lowest level in nine weeks

Data from Truckstop and FTR Transportation Intelligence for the week ended April 26 showed broker-posted spot rates moving roughly in line with seasonal expectations as refrigerated spot rates rose while dry van spot rates declined. Dry van spot rates fell to their lowest level in nearly a year, while refrigerated spot rates posted their sharpest gain since mid-January. Dry van rates slipped below year-earlier levels, but refrigerated rates maintained their small y/y increase for the fourth time in five weeks. Flatbed spot rates fell by the most in a week since early February. The total market rate declined to its lowest level in five weeks.

The spot market is just two weeks away from a near-certain spike in rates due to the Commercial Vehicle Safety Alliance’s (CVSA) International Roadcheck inspection event, which will sideline significant driver capacity in the overall truck freight market during the May 14-16 period of roadside inspection scrutiny. Last year, Roadcheck basically reset van equipment spot rates higher as they continued to move mostly seasonally after that.

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