BLOOMINGTON, Ind. — Broker-posted spot rates in the Truckstop system rose modestly during the week ended Sept. 1 (week 35), resulting in a second straight week-over-week increase for the first time since May.
Spot rates also were up for all equipment types for the first time since May, although the increase for flatbed was a mere fraction of a cent, according to a news release.
“The week before Labor Day frequently is the peak of rates between the end of June and Thanksgiving, especially for dry van and refrigerated equipment,” the news release stated.
Total load activity eased 1.3% after rising more than 10% during the prior week.
Volume was nearly 21% below the same week last year and almost 25% below the five-year average for the week. An increase in volume in the Southeast — possibly related to disruption and relief efforts related to Hurricane Idalia — mostly offset decreases in all other regions. Truck postings declined 1.1%, and the Market Demand Index – the ratio of loads to trucks – barely moved.
The total broker-posted rate rose just under 2 cents after ticking up more than a half-cent in the previous week. Rates were almost 13% below the same 2022 week and more than 5% below the five-year average. Rates have been holding at around 4% to 5% below the prior-year level for the past five weeks, reflecting mainly the spot market’s normalization by August of last year.
Dry van spot rates rose more than 6 cents, which is the strongest gain since the end of June. Rates were nearly 10% below both the same week last year – the least negative y/y comparison since July 2022 — and the five-year average. Dry van loads increased 1.2% after rising more than 9% during the prior week. Volume was nearly 9% below the same 2022 week — the least negative year-over-year comparison since July of last year — and about 20% below the five-year average.
Refrigerated spot rates increased more than 3.5 cents after rising nearly 5 cents during the prior week. Rates, which were up for a third straight week for the first time since November of last year, were nearly 7% below the same 2022 week and about 5% below the five-year average. Refrigerated loads declined 2.8% after rising more than 7% in the previous week. Volume was nearly 16% below the same week last year and almost 22% below the five-year average for the week.
Flatbed spot rates ticked up three-tenths of a cent for the first gain — albeit a tiny one — in five weeks.
Rates were more than 16% below the same 2022 week and nearly 5% below the five-year average. Flatbed loads were down 2.4% after jumping about 15% in the prior week. Volume was about 31% below the same week last year and almost 35% 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.
