Spot Truckload Rates, Volumes Top Expectations
National average spot truckload rates rose for all three equipment types during the holiday-shortened week ending June 3, with reefer and flatbed rates hitting their highest marks in nearly two years, reported DAT Solutions.
The national average van rate was up 5 cents to $1.73/mile, with rates higher on 71 of the top 100 van lanes. The average flatbed rate gained 2 cents to $2.12/mile, the highest since August 2015, and the refrigerated rate gained 3 cents to $2.04/mile, the highest since September 2015.
Strong Freight Activity
Overall, the number of load posts last week fell 9.2% compared to a typical 20% decline for a four-day workweek. Truck posts were off 19%, which helped move national average load-to-truck ratios higher for vans and flatbeds:
– Van ratio: 5.1 loads per truck, up 22%
– Reefer ratio: 7.6, down 2%
– Flatbed ratio: 38.8, up 13%
Van Trends
Nationally, the number of available van loads slipped just 4% while van posts fell 21%. On most major van markets, rates were higher:
– Los Angeles, $2.17/mile, up 6 cents
– Chicago, $1.99/mile, up 5 cents
– Columbus, $1.99/mile, up 8 cents
– Dallas, $1.77/mile, up 4 cents
– Atlanta, $2.08/mile, up 6 cents
– Philadelphia, $1.70/mile, up 5 cents
Some key indicators: higher rates out of Memphis and Columbus tell us that retail traffic is moving, and higher rates out of Dallasand Seattle shows us that the improvement is wide-reaching.
Reefer Trends
Reefer load posts declined 13% and truck posts fell 11% but again not the expected 20% for a shorter week. The trend to watch: freight in transition. Markets that were previously hot, like Florida, are slowing while the bulk of California freight has yet to hit the spot market. Texas is still ahead of California for overall reefer loads, but the gap is narrowing.
– Crop production is rising out of the Northwest, so reefer rates fell on inbound lanes like Sacramento-Portland, Oregon. Those rates fell 30 cents to an average of $2.72/mile.
– Asparagus, beans, and peas are shipping out of Western Michigan, and reefer rates on the lane from Grand Rapids-Philadelphiajumped 47 cents to $3.17/mile.
– Peak season in Florida has ended, so outbound reefer rates are starting their descent: Lakeland-Atlanta lost 36 cents at $1.95/mile while Miami-Elizabeth, N.J., fell 27 cents to $2.10/mile. Expect rates to fall more in the coming weeks.
Category: Featured
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