Spot Rates Down Slightly as Truckload Capacity Returns

The number of available loads posted was up 17%, a sign that freight patterns have normalized after two weeks of holidays, disruptive weather, and more rigid schedules imposed by the use of electronic logging devices.

Load-to-truck ratios for all three equipment types edged down from record highs:

– Van load-to-truck ratio: 10.7, down from 14.7 the previous week
– Flatbed ratio: 53.7, down from 63.5 
– Reefer ratio: 18.4, down from 25.2

The number of van load posts increased 12% and truck posts surged 54%. The national average spot van rate dipped 2 cents to $2.28/mile—still a high rate. Outbound rates from many major markets held firm:

– Atlanta, $2.44/mile, down 2 cents

– Houston, $1.99/mile, down 1 cent

– Chicago, $3.00/mile, up 1 cent

Notable exceptions: Buffalo, N.Y., up 21 cents to $2.98/mile, building on a 5-cent increase the previous week; Los Angeles, $2.71/mile, down 16 cents; and Charlotte, $2.64/mile, up 10 cents.

Demand for refrigerated trailers remains solid, with load posts up 6%. Truck posts were up 46% compared to the previous week, which helped send the national average reefer rate down a penny to $2.70 per mile. Volumes are down seasonally, a sign that reefer rates may have crested as we move deeper into a post-holiday period.

The national average flatbed rate slipped 1 cent to $2.42/mile to start the year. Flatbed load posts increased 35% after a 46% increase the previous week, and truck posts increased 60%.