BLOOMINGTON, Ind. — Total spot market rates in the Truckstop system fell by the most in more than three months during the week ended June 16 (week 24), due largely to the largest drop in flatbed rates since then, according to the latest report from Truckstop and Freight Transportation Research.
Broker-posted dry van and refrigerated rates also declined in the latest week, but those decreases were not especially notable compared to those seen in recent weeks.
Truckstop analysts note that “the next couple of weeks are key for the van segments as week 26 typically represents one of the strongest weeks of the year for spot rates.”
Loads available
Total load activity declined 4.6% after rising about 10% in the previous week. Volume was almost 44% below the same week last year and nearly 29% below the five-year average. Load activity rose in the Southeast and was up slightly in the Northeast but fell in all other regions. Truck postings ticked up 0.3%, and the Market Demand Index – the ratio of loads to trucks – declined to its lowest level since mid-May.
Total rates
The total broker-posted rate fell 5 cents after easing more than a cent in the prior week. The decrease was the largest since a slightly larger one in week 10. The total market rate was 22% below the same 2022 week and 2.5% below the five-year average.
Dry van
Dry van spot rates declined 3.5 cents after falling 4 cents in the previous week. Rates were about 20% below the same 2022 week and more than 10% below the five-year average. Dry van loads declined 3.7% after rising more than 7% during the prior week. Volume was about 42% below the same week last year and nearly 29% below the five-year average for the week.
Reefer
Refrigerated spot rates fell nearly 5 cents after ticking up just a tenth of a cent in the prior week. Rates were almost 15% below the same 2022 week and 7% below the five-year average for the week. Refrigerated loads fell 9.2% after rising nearly 8% during the previous week. Volume was more than 47% below the same week last year and nearly 32% below the five-year average for the week.
Flatbed
Flatbed spot rates fell more than 5 cents after decreasing 1.6 cents in the previous week. The decrease was the segment’s largest since March. Rates were nearly 25% below the same 2022 week and 1% below the five-year average for the week. Rates had not been below the five-year average since 2020. Flatbed loads declined 4.2% after rising more than 12% in the prior week. Volume was nearly 46% below the same week last year and more than 32% below the five-year average for the week.
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