Total Spot Market Rate Holds Steady Again

| June 11, 2024

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

Total Spot Market Rate Holds Steady Again

Data from Truckstop and FTR Transportation Intelligence for the week ended June 7 again show stable broker-posted spot rates overall, as was the case in the previous week. However, rates for dry van and refrigerated decreased while flatbed spot rates increased for a fourth straight week, which had not happened since January. Rates were down year over year for all equipment types, but they generally are moving directionally in line with seasonal expectations. The total market rate was marginally closer to the prior-year level than it has been over the last four weeks, but the comparison with the five-year average was the most negative since the beginning of this year.

Load postings were up sharply from the previous week, which included Memorial Day. Truck postings also increased but not nearly as sharply as volume. The Market Demand Index rose to 81.7, which is not as strong as the reading during International Roadcheck week three weeks earlier but otherwise was the strongest level since the first week of 2023.

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