Spot Rates Move Slightly Higher in the Latest Week

| March 26, 2024

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

Spot Rates Move Slightly Higher in the Latest Week

Data from Truckstop and FTR Transportation Intelligence for the week ended March 22 shows continued stability in spot rates overall. Rates were slightly higher week over week in part because dry van spot rates rose by the most since mid-January. The freight mix also bolstered total market spot rates in the latest week. Although refrigerated and flatbed rates declined, flatbed rates are much higher than van rates and posted a sizable volume gain, while van load postings declined. Total rates were up for the third straight week, which had not occurred previously this year. However, the cumulative increase over those three weeks was less than 3 cents.

The 9% increase in load postings compared to the same week in 2023 represented the strongest y/y comparison since February 2022. With loading postings outpacing truck postings, the Market Demand Index increased to 73.3, the highest level since the first week of 2023. However, as has been the case recently, the flatbed MDI continued to rise while the MDIs for van equipment eased.

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