BLOOMINGTON, Ind. — The total broker-posted rate in the Truckstop system declined by the most in 11 weeks during the week ended April 26 (week 17) as flatbed spot rates dropped and dry van and refrigerated rates moved in oppositive directions. Dry van spot rates fell to their lowest level in nearly a year while refrigerated spot rates posted their sharpest gain since mid-January. Both moves were in keeping with seasonal expectations. Flatbed spot rates fell by the most in a week since early February.
Total loads
Total load activity declined 2.7% after decreasing 3% during the previous week. Total volume was down 9% from the same 2023 week and was more than 32% below the five-year average for the week. Total truck postings rose 3.8%, and the Market Demand Index — the ratio of load postings to truck postings in the system — declined to its lowest level in nine weeks.
Total rates
The total broker-posted rate declined about 3 cents to its lowest level in five weeks after ticking up a fraction of a cent during the prior week. Rates during the same 2023 week were essentially the same as the five-year average for the week, and rates last week were 4.6% below both. As we will continue to point out, spot rates are virtually certain to spike in mid-May due to the Commercial Vehicle Safety Alliance’s International Roadcheck inspection event, which will sideline significant driver capacity in the overall truck freight market during the May 14-16 period of roadside inspection scrutiny.
Dry van rates
Dry van spot rates fell 3 cents, which is slightly less than the decrease in the previous week. After straight two weeks of being slightly higher year-over-year, rates were less than 1% below the same 2023 week and 7.5% below the five-year average. Dry van loads declined 3%, which is about the same as the decline in the previous week. Volume was about 16% below the same 2023 week and about 28% below the five-year average for the week.
Refrigerated rates
Refrigerated spot rates rose about 5 cents for the strongest increase since the third week of the year when winter weather led to a one-week spike. Rates were 1% above the same 2023 week but nearly 6% below the five-year average for the week. Refrigerated loads increased 2.6% after rising nearly 6% in the previous week. Volume was nearly 8% below the same 2023 week and about 32% below the five-year average for the week.
Flatbed rates
Flatbed spot rates fell 3.5 cents after rising 2 cents in the previous week. Rates were more than 6% below the same 2023 week and about 4% below the five-year average for the week. Flatbed loads fell 3.6% for the fifth straight decrease. Volume was more than 6% below the same week last year and nearly 38% below the five-year average for the week.
Born in Pine Bluff, Arkansas, and raised in East Texas, John Worthen returned to his home state to attend college in 1998 and decided to make his life in The Natural State. Worthen is a 20-year veteran of the journalism industry and has covered just about every topic there is. He has a passion for writing and telling stories. He has worked as a beat reporter and bureau chief for a statewide newspaper and as managing editor of a regional newspaper in Arkansas. Additionally, Worthen has been a prolific freelance journalist for two decades, and has been published in several travel magazines and on travel websites.
