Spot Truckload Rates and Volume Look Promising

The spot truckload market finished August on an upbeat note as the number of available loads jumped 8.4% during the week ending Sept. 3, according to DAT Solutions.

The national average van rate gained 6 cents, the reefer rate added 3 cents, and the flatbed rate picked up a penny after a mostly lackluster month.

Load-to-truck ratios got a healthy boost, an indication that the higher rates may outlast end-of-month and pre-holiday pressure.

VAN TRENDS: Van load posts increased 13% and truck posts fell 2% for a 3.2 load-to-truck ratio, the highest ratio since July. The spike in freight volume pushed the national average van rate to $1.66/mile, a 6-cent increase compared to the previous week.

In the Midwest, a 4% increase in freight volume sparked an 8-cent-per-mile jump to $1.99/mile on outbound lanes from Chicago. Rates out of Columbus averaged $1.90/mile, up 6 cents.

Van volumes and rates were strong in the Southeast: Charlotte gained 6 cents to $1.94/mile, Atlanta was up 4 cents to $1.87/mile, and Memphis added 4 cents to $1.86/mile.

Other top-paying markets by region:

West: Los Angeles, $2.02/mile (up 2 cents)
South Central: Houston, $1.50/mile (up 3 cents)
Northeast: Allentown, Pa., $2.09/mile (up 10 cents)

REEFER TRENDS: The number of reefer load posts increased 11% last week while capacity declined 2%. That boosted the reefer load-to-truck ratio 14% to 6.6 loads per truck. The national average reefer rate gained 3 cents to $1.92/mile including a 1-cent increase in the fuel surcharge.

In California, average outbound rates were generally strong including a 5-cent jump in the rate from Los Angeles ($2.46/mile). Idaho potato harvests led to higher volumes out of Twin Falls but outbound rates slipped leading up to the Labor Day weekend.

Several key reefer-freight lanes remained strong:

– Atlanta-Lakeland, Fla.: $2.84/mile, up 6 cents
– Elizabeth, N.J.-Boston: $3.55/mile, down 3 cents
– Chicago outbound: $2.35/mile, up 14¢

FLATBED TRENDS: The number of flatbed load posts was steady while truck posts increased 4%. That pushed the load-to-truck ratio up 4% to 10.1 loads per truck. The national average flatbed rate was up a penny (due to the fuel surcharge) at $1.91/mile.

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