BLOOMINGTON, Ind. — Spot rates for van equipment likely will remain above levels seen back in the spring, but a drop in flatbed rates in the Truckstop system during the week ended Oct. 6 (week 40) pulled the total broker-posted spot rate down to its lowest level since July 2020.
Spot rates were down week-over-week for all equipment types, although the decrease in dry van was tiny.
Flatbed saw the largest drop since mid-July.
Although weak, spot rates are still moving largely according to seasonal expectations.
Loads available
Total load activity declined 6.3% after rising nearly 8% during the prior week. Volume was nearly 18% below the same 2022 week and almost 25% below the five-year average for the week. Spot volume declined in all regions, although the decrease in the South Central region was minuscule. Truck postings declined 2.7%, and the Market Demand Index – the ratio of loads to trucks – declined from the prior week, which had been the highest MDI since early June.
Total rates
The total broker-posted rate decreased about 3.5 cents after increasing about 2.5 cents during the previous week. Rates were about 11% below the same 2022 week and nearly 5% below the five-year average.
Dry van
Dry van spot rates barely moved, easing a mere two-tenths of a cent after declining about 3 cents during the prior week. Rates were almost 9% below both the same week last year and the five-year average. Dry van spot rates are still about 15 cents higher than during the recent low, which was the week before the International Roadcheck inspection event. Dry van loads fell 11.5% after rising more than 8% in the previous week. Loads were down in all regions. Volume was more than 21% below the same 2022 week and 25% below the five-year average.
Reefer
Refrigerated spot rates eased 1.5 cents after decreasing 2.5 cents during the previous week. Rates were nearly 11% below the same 2022 week and almost 7% below the five-year average. Refrigerated rates are still about 22 cents higher than the recent low in April. Refrigerated loads declined 3.1% after rising more than 1% during the prior week. Loads were up in the South Central and Mountain Central regions but down elsewhere. Volume was nearly 29% below the same week last year and 30% below the five-year average for the week.
Flatbed
Flatbed spot rates fell nearly 4.5 cents after rising nearly 3.5 cents during the prior week. Rates were nearly 15% below the same 2022 week and about 3.5% below the five-year average. Flatbed spot rates are still slightly higher than they were during a couple of weeks in August, but they have not clearly bottomed out. Flatbed loads declined 1.7% after rising more than 7% in the previous week. Loads were up in the Northeast and South Central regions but down elsewhere. Volume was 13% below the same 2022 week and 30% below the five-year average for the week.
The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.
